Maxima Grupe to launch a tender for 100% Emperia shares

Lithuanian retailer Maxima Grupe has signed an investment agreement with WSE-listed retailer Emperia Holding to launch a tender offer for 100 percent shares in the Polish company. The price was set at no less than PLN 100 apiece. According to the agreement, the management board of Emperia pledged not to recommend the payment of dividends for 2017, and to make efforts to ensure that until the finalization of the deal, would run their business under present conditions. Maxima Grupe owns several retail chains in the CEE region. In Poland, it operates under Aldik brand. Emperia manages Stokrotka retail chain.