Kirkland Advises EP Global Commerce on Multi Billion Euro Voluntary Public Takeover Offer for METRO AG

Kirkland & Ellis advised EP Global Commerce VI GmbH on the voluntary public takeover offer to the shareholders of METRO AG for the acquisition of all non-par value ordinary and preference shares. The offer corresponds to an equity value for all METRO AG shares of approx. €6 billion. Metro Group is a German global diversified retail and wholesale cash and carry group based in Düsseldorf.

A global team from Kirkland & Ellis advised on all aspects of the transaction including public M&A, corporate, capital markets, financing, tax and anti-trust aspects of the offer for Metro AG, covering German, English and New York law.  The take-over offer is one of the largest recent take-private transactions in the European market.

The team was led by M&A and transactional partners Achim Herfs and Ben Leyendecker in Munich and Daniel Borg and Neel Sachdev in London. The team was supported by Munich associate Christoph Jerger and London associate Stefan Arnold-Soulby.

EP Global Commerce (EPGC) is an acquisition entity founded in 2016 and controlled by Daniel Křetínský, who is acting in concert with other shareholder Patrik Tkáč. Two subsidiaries, EP Global Commerce GmbH and EP Global Commerce II GmbH, were founded for the purpose of acquiring METRO shares formerly owned by Haniel and CECONOMY.