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Daniel Křetínský (Photo: www.seznamzpravy.cz)
Czech billionaire Daniel Křetínský’s EP Global Commerce plans to buy out German retailer Metro AG and delist its shares, Interfax-Ukraine reported on Feb. 6.
The retailer signed an agreement with EP Global Commerce under which Daniel Křetínský’s company will offer Metro shareholders a buyout at about $5.73 per share. Metro’s stock surged 37% to $5.75 in trading on Feb. 6.
Metro’s management supports delisting, while EPGC plans to retain the current leadership.
“Křetínský’s company is committed to Metro’s long-term strategy and related investments,” Metro said.
Earlier, Křetínský’s EP Group agreed to acquire the parent company of Royal Mail, the UK’s national postal operator.
Křetínský also invests in J Sainsbury and West Ham United. The Sunday Times Rich List estimates his fortune at about $7.4 billion.
Metro, a German retail giant, operates the Metro Cash & Carry chain. Its key markets include Germany, France, Russia, Italy, Kazakhstan, and Turkey.
Unlike many Western companies, Metro did not exit Russia after the full-scale invasion of Ukraine.
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