Vilnius, Lithuania, 2017-Nov-27 — /EPR Retail News/ — Maxima grupė has signed an investment agreement with Emperia Holding and is submitting a tender offer to acquire 100% of company’s shares on Warsaw Stock Exchange. Emperia Holding controls a Polish retail chain Stokrotka.
“Stokrotka is one of the leading food retail chains in the Polish market. We believe that attractive store formats and strong management team provide necessary foundations for successful chain’s development in the future. Emperia group also owns a portfolio of real estate properties that supplements its retail business well. Therefore Maxima Grupė is excited about prospects of acquiring Emperia and the opportunity to increase our exposure to the growing Polish food retail market, – comments Petras Jašinskas, chairman of the board at Maxima Grupė.”
Maxima Grupė offers a price of 100 zloty for one share of Emperia Holding and the total price for all company’s shares amounts up to 1,192 million PLN (approx. 283 million EUR). Tender offer conditions also stipulate that Maxima Grupė may withdraw from the tender offer if less than 66% of shares are submitted or if other pre-agreed conditions are not met.
“The offer to acquire shares is valid till the end of February, 2018. Afterwards, the transaction will be closed if pre-conditions are met and a positive ruling is received from Office of Competition and Consumer Protection. We strongly believe that we will successfully close the tender offer and acquire the control of the Company.” – says Petras Jašinskas.
Stokrotka network in Poland is composed of 410 stores and it has a market share of approx. 20% in the proximity store segment. Emperia group employs 8.2 thousand employees and had consolidated turnover of 2,451 million PLN at the end of year 2016.
At the moment Maxima Grupė controls retail chains under brands Maxima (in Baltics states), Aldik (in Poland), T-Market (in Bulgaria) and an electronic online shop of food and daily consumer goods Barbora. In year 2016 consolidated turnover of Maxima Grupė amounted to 2,693 million EUR.
For more information:
Head of Corporate Affairs
MAXIMA GRUPĖ, UAB
Mobile +370 611 43 548
Source: MAXIMA GRUPĖ