WARSAW – Nov. 27, 2017 – Greenberg Traurig represented Emperia Holding S.A. in signing an investment agreement with MAXIMA GRUPĖ, UAB. On that basis, MAXIMA announced a tender offer for 100 percent of shares in Emperia.
The agreement finalizes the strategic investor selection process for the company that was initiated in May 2017. The tender offer is subject to customary anti-trust approval and certain other conditions, including a 66 percent acceptance threshold and a successful voting on the amendment of the company’s articles of association.
Greenberg Traurig provided strategic legal counsel with respect to the transaction, including preparation of the due diligence process and negotiation of the transaction documentation.
The transaction was led by Partner Ireneusz Matusielański, who was supported by Local Partner Tomasz Kacymirow, associates Magdalena Zmysłowska and Marek Kłeczek, and Senior Associate Adam Puchalski.
Emperia, which was established in 1990, is a capital group and an operator of a leading and independent store chain under the Stokrotka brand. Having 410 stores, the company holds approximately 20 percent of the market of proximity supermarket stores located in housing estates, mini shopping centers, and shopping malls. In 2016, Emperia generated PLN 2,451 million of consolidated income and EBITDA of PLN 111 million. Emperia employs approximately 8,200 people. The company has been listed on the Warsaw Stock Exchange since 2002.
MAXIMA GRUPĖ, UAB is a holding company encompassing Maxima retail chains (in Lithuania, Latvia and Estonia), T-MARKET (in Bulgaria), ALDIK (in Poland), and Barbora, an on-line grocery store. In 2016, the company’s consolidated turnover amounted to EUR 2,693 million. MAXIMA GRUPĖ UAB employs approximately 31,000 people.
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