Metro: EP Global Commerce becomes largest shareholder
(CercleFinance.com) - EP Global Commerce has raised its stake in Metro, making it the largest investor in the German retailer, the investment fund said on Friday.
After exercising an option to acquire 45 million Metro shares from German family-owned equity firm Haniel, EPGC will hold 29.99% of Metro, compared to a previous position of 17.52%, the fund said.
"The increase underlines the commitment of EPGC to Metro as a responsible strategic investor," EP Global Commerce explained in a statement.
EP Global Commerce - an investment vehicle owned by businessmen Patrik Tkac and Daniel Kretinsky - said that it will seek "appropriate representation" on the Metro's supervisory board.
It also retains a call option to acquire further ordinary shares from Haniel.
The shares are currently up just over 1% on Germany's XETRA market.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
After exercising an option to acquire 45 million Metro shares from German family-owned equity firm Haniel, EPGC will hold 29.99% of Metro, compared to a previous position of 17.52%, the fund said.
"The increase underlines the commitment of EPGC to Metro as a responsible strategic investor," EP Global Commerce explained in a statement.
EP Global Commerce - an investment vehicle owned by businessmen Patrik Tkac and Daniel Kretinsky - said that it will seek "appropriate representation" on the Metro's supervisory board.
It also retains a call option to acquire further ordinary shares from Haniel.
The shares are currently up just over 1% on Germany's XETRA market.
Copyright (c) 2019 CercleFinance.com. All rights reserved.