Billionaire Daniel Kretinsky aims to delist Metro
Daniel Kretinsky plans to take the German wholesale group Metro private. The company’s management supports the Czech businessman, who currently already holds 49.99 % of Metro’s shares.
Kretinsky has offered other shareholders 5.33 euros per share. This represents a significant premium compared to the 3.90 euros per share value at the beginning of the week; however, the stock price has since risen by 37 %. If shareholders accept the offer, Kretinsky would control 75 % of the shares. Investment funds BC Equities, Beisheim Holding, and Palatin intend to retain their stakes, collectively holding 24.99 % of the shares.
Metro’s management supports the bid, stating that operating without a stock market listing would allow the company to function under calmer conditions. This is not Kretinsky’s first attempt to gain full control of the wholesale company; a similar takeover bid in 2019 was unsuccessful.
Alongside the news of the bid, Metro reported positive figures for the first quarter of its fiscal year. Its sales increased by 5.6 % to 8.6 billion euros, and EBITDA rose from 407 million euros to 412 million euros. The company aims for an organic revenue growth of between 3 and 7 % this year. Metro operates 623 stores in over thirty countries and employs 85,000 people.
Retail Detail
Related news
Co-op Wholesale to double its private label range
Co-op Wholesale is investing GBP 800,000 in the UK to…
Read more >Wholesale trade trends after 2024: tech, AI, sustainability…
Wholesale is undergoing a huge transformation, driven by changing consumer…
Read more >Adaptation and renewal
Recent challenges have forced the domestic wholesale sector to keep…
Read more >Related news
Food Price Margin Reduction Extended Until the End of August
István Nagy, Hungary’s Minister of Agriculture, announced on his official…
Read more >Profitability of trade is decreasing – the government is opening up substantial resources
On May 28, Laurel Számítástechnikai Kft. held its 12th Retail…
Read more >Rules on meat products are getting stricter – a new concept is also included in the regulation
A new regulatory amendment has been proposed in Hungary: the…
Read more >