June 24, 2019 / 8:36 AM / a month ago

EP Global exercises option to buy 5.4% Metro stake

BERLIN, June 24 (Reuters) - EP Global Commerce, an acquisition vehicle owned by Czech and Slovak investors, has exercised a call option to buy another 5.4% stake in German retailer Metro from Ceconomy, the consumer electronics company said on Monday.

Ceconomy said in a statement it expects the closing of the deal to happen in the next few days. EP Global Commerce first bought a 3.6% stake in Metro from Ceconomy last September.

Ceconomy said it will continue to hold a stake of about 1% in Metro after the transaction, until at least Sept. 30, 2023, for tax reasons. It said the parties agreed not to disclose the purchase price.

EP Global Commerce on Friday made an offer to take over Metro, a bid the company’s management rejected. (Reporting by Emma Thomasson Editing by Tassilo Hummel)

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