CMS has advised Maxima Grupe UAB on the acquisition of 100% of the shares in Emperia Holding S.A., the owner of the Stokrotka supermarket chain. Greenberg Traurig advised Emperia Holding on the sale.
The investment agreement was signed in November 2017, and on November 24, 2017 a tender offer for 100% of the company’s shares was announced. Poland's Office of Competition and Consumer Protection approved the acquisition on April 5, 2018. By April 12, 2018, shareholders subscribed for shares with a total value of approximately PLN 1.15 billion. According to CMS, "the tender offer was met with significant interest from shareholders and within five days Maxima obtained subscriptions for over 93% of shares in the company." The settlement of the transaction is planned for April 18, 2018.
Maxima Grupe is the owner of the Maxima network of grocery stores in Lithuania, Latvia, and Estonia, and owns a network of Aldik and Sano supermarkets in Poland.
The CMS transaction team was led by Partner Jakub Marcinkowski, with support from Senior Associates Olga Czyzycka and Rafal Kluziak. Competition aspects were managed by Partner Małgorzata Urbanska, supported by Senior Associate Agnieszka Starzynska and Associate Krzysztof Sikora.
Greenberg Traurig did not reply to an inquiry about the deal.