Lithuania-based Maxima Grupė is one step closer to acquiring Emperia Holding, with the news that it has signed an investment agreement with the business and is submitting a tender offer to acquire 100% of company’s shares on Warsaw Stock Exchange.
Emperia Holding controls the Polish retail chain Stokrotka, which comprises some 410 stores and has a market share of around 20% in the convenience segment.
“Stokrotka is one of the leading food retail chains in the Polish market,” said Petras Jašinskas, chairman of the board at Maxima Grupė.
“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.”
Price Per Share
Maxima Grupė is offering a price of 100 zloty per share of Emperia Holding, and the total price for all company’s shares amounts up to 1,192 million PLN (approximately €283 million).
“The offer to acquire shares is valid till the end of February 2018,” said Jašinskas. “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.”
Maxima Grupė operates chains under the banners Maxima, Aldik (in Poland) and T-Market (in Bulgaria), as well as the online shop Barbora.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.
