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BRIEF-Maxima Grupe to announce tender offer for Emperia Holding at min. PLN 100/shr
November 24, 2017 / 6:21 AM / 24 days ago

BRIEF-Maxima Grupe to announce tender offer for Emperia Holding at min. PLN 100/shr

Nov 24 (Reuters) - EMPERIA HOLDING SA:

* SAID ON THURSDAY THAT IT HAS SIGNED AN INVESTMENT AGREEMENT WITH LITHUANIAN COMPANY MAXIMA GRUPE, UAB

* MAXIMA GRUPE ON NOV. 24 WILL ANNOUNCE A TENDER OFFER FOR 100% SHARES OF THE COMPANY PRICED AT LEAST AT 100 ZLOTYS PER SHARE

* IPOPEMA 72 FIZAN AND ALTUS 29 FIZ SIGNED COMMITMENTS TO RESPOND TO THE TENDER OFFER WITH RESPECT TO SHARES REPRESENTING C. 21% OF THE SHARE CAPITAL OF EMPERIA

* THE COMPANY‘S MANAGEMENT BOARD COMMITTED NOT TO RECOMMEND DIVIDEND PAYMENT FOR 2017

* ARTUR KAWA AND JAROSLAW WAWERSKI, MEMBERS OF THE SUPERVISORY BOARD, BELIEVE THAT THE EXECUTION AND IMPLEMENTATION OF THE INVESTMENT AGREEMENT WITH MAXIMA IS ATTRACTIVE TO THE COMPANY‘S SHAREHOLDERS

* “THANKS TO THE NEW INVESTOR, STOKROTKA WILL BE ABLE TO EXPAND EVEN FASTER NOT ONLY DUE TO THE ORGANIC GROWTH OF THE CHAIN ITSELF, BUT ALSO THROUGH MERGERS AND ACQUISITIONS”, EMPERIA CEO DARIUSZ KALINOWSKI SAID

* THE PRICE TO BE OFFERED IN A TENDER OFFER REPRESENTS A 29.1% PREMIUM TO THE CLOSING PRICE ON MAY 8, THE DAY PRECEDING EMPERIA‘S ANNOUNCEMENT ON STARTING THE SEARCH FOR AN INVESTOR, A 6.5% PREMIUM TO THURSDAY‘S CLOSING PRICE AND RESPECTIVELY 9.4% AND 14.4% PREMIUM TO 3- AND 6-MONTH VOLUME-WEIGHTED AVERAGES

* TENDER OFFER IS SUBJECT TO CUSTOMARY ANTI-TRUST APPROVAL AND CERTAIN OTHER CONDITIONS

* ROTHSCHILD ACTED AS A SOLE FINANCIAL ADVISOR TO EMPERIA IN THE TRANSACTION

* GREENBERG TRAURIG GRZESIAK ACTED AS LEGAL ADVISOR AND PWC PROVIDED VENDOR REPORTS

Source text for Eikon:, source text: bit.ly/2A261pw

Further company coverage: (Gdynia Newsroom)

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