DLA Piper advises Metro’s shareholder in connection with planned delisting

DLA Piper has advised Meridian Foundation, a founding shareholder of Metro AG, on a shareholders’ agreement with EP Global Commerce (EPGC), which will take effect upon completion of the Metro AG delisting sought by EPGC.

The DLA Piper team was jointly led by partners Dr. Roland Maaß (Capital Markets, PICTURED RIGHT) and Andreas Füchsel (Private Equity/M&A, PICTURED LEFT), both from Frankfurt office. Additional team members included partner Dr. Gunne Bähr, counsel Dr. Volker Lemmer (both Insurance Law, Cologne), Juliane Poss (Capital Markets), and senior associate Philipp Meyer Reichen (Private Equity/M&A; both Frankfurt).

The two founding shareholders, Meridian and Beisheim Group, have been investing in Metro AG since 1964 and hold a combined 24.99% of voting rights through their respective companies. Through the shareholders’ agreement, they have agreed with EPGC, the largest shareholder, that EPGC will assume operational leadership of Metro AG following the delisting. The founding shareholders will retain their ability to freely exercise their voting rights at Metro AG’s general meetings.

The planned delisting of Metro AG is intended to accelerate and facilitate the transformation measures already initiated. Meridian and Beisheim will remain shareholders of Metro AG and will not tender their shares in EPGC’s delisting tender offer.

The Meridian Foundation is a charitable foundation whose shareholdings are managed by Palatin Verwaltungsgesellschaft, Essen.