Maxima Grupe has extended the period set for the acquisition of Emperia Holding S.A., which controls the Polish retail chain Stokrotka, until 12th of April. Maxima Grupe has submitted its tender offer on Warsaw Stock Exchange concerning the acquisition of 100 per cent of the said company’s shares.
“The Polish Office of Competition and Consumer Protection is still conducting an assessment of the transaction, which due to its large volume requires more time. Accordingly, we have prolonged the tender offer concerning the acquisition of the shares issued by Emperia Holding S.A. We expect to receive the permission in the nearest future,” said the Chairman of the Board and CEO of Maxima Grupe.
Maxima Grupe offers PLN 100 per one share issued by Emperia Holding S.A. The total price for the issued shares amounts to PLN 1.192 billion (around EUR 283 million). The bid also includes the provision stating that Maxima Grupė may refuse buying the shares if the bid is accepted by less than 66 per cent of the company’s shareholders or other contractual terms and conditions are not met.
In Poland, the retail chain Stokrotka has 436 stores and occupies around 20 percent of the market of the stores based near residential houses. The company has around 8.2 thousand employees; in 2016, its turnover amounted to EUR 570 million.
Lithuanian holding Maxima Grupe 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 Grupe amounted to 2,693 million euros.
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