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MarketScreener Homepage  >  Equities  >  Xetra  >  Metro AG    B4B   DE000BFB0019

METRO AG

(B4B)
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Metro : Czech investor Kretinsky, partner raise stake in Metro to 29.99%

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10/31/2019 | 01:05pm EST
FILE PHOTO: German retailer Metro AG sign is seen on the steps of their headquarters in Duesseldorf

FRANKFURT (Reuters) - Czech businessman Daniel Kretinsky and Slovak partner Patrik Tkac will raise their stake in German wholesaler Metro AG following a failed takeover bid earlier this year, their joint investment vehicle said on Thursday.

EP Global Commerce (EPGC) said it had exercised a call option to buy shares from German family-owned investment group Haniel [FHANI.UL] and raise its stake to 29.99% from 17.52%, just below the threshold that would trigger a full takeover bid.

The closing of the deal is expected on Nov. 6, EPGC said, adding it underlined its "commitment of EPGC to Metro AG as a responsible strategic investor". The move will make EPGC Metro's largest shareholder.

EPGC said it would seek appropriate representation on Metro's supervisory board, adding it retains a call option to acquire further shares from Haniel. No financial details were disclosed.

EPGC in August failed with a 5.8 billion euros ($6.5 billion) bid for Metro after failing to find common ground over valuation with shareholders Meridian Stiftung and Beisheim Holding, which hold a nearly 21% stake in Metro.

(Reporting by Christoph Steitz)

Stocks mentioned in the article
ChangeLast1st jan.
CECONOMY 1.39% 4.896 Delayed Quote.55.63%
METRO AG -0.71% 13.95 Delayed Quote.4.14%
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Financials (EUR)
Sales 2020 29 444 M
EBIT 2020 468 M
Net income 2020 191 M
Debt 2020 1 389 M
Yield 2020 5,02%
P/E ratio 2020 26,4x
P/E ratio 2021 14,8x
EV / Sales2020 0,22x
EV / Sales2021 0,23x
Capitalization 5 063 M
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Technical analysis trends METRO AG
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Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 16
Average target price 14,11  €
Last Close Price 13,95  €
Spread / Highest target 29,0%
Spread / Average Target 1,18%
Spread / Lowest Target -30,5%
EPS Revisions
Managers
NameTitle
Olaf G. Koch Chairman-Management Board & CEO
Juergen B. Steinemann Chairman-Supervisory Board
Philippe Palazzi Chief Operating Officer
Christian Baier Chief Financial Officer
Florian Funck Member-Supervisory Board
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