Information that Seven & I Holdings, owners of the Asian giant 7‑Eleven, officially confirmed a plan to acquire a significant block of Żabka shares triggered a true earthquake on the exchange
The Japanese Kaiju on the Polish playground
Since July 16, the Polish company’s shares have risen by almost 20%, driven by strong market resistance and growing investor appetite. When the first reports of a takeover appeared in the media, the Warsaw market reacted instantly.
The company does not comment on any rumors regarding potential transactions on its existing shares — the company’s press office said.
The market, however, does not need official statements to value the future. The Japanese issued a short statement confirming their interest, and that was enough to ignite the imagination of market players.
See also: Will the Warsaw Stock Exchange surprise in 2026? “Investors should ensure their portfolios are ready for a bullish trend.”
The Luxembourg hook and the 33.3% threshold
Why is the potential withdrawal of Żabka from trading so complicated? Everything hinges on legal geography. Although green stores are associated with every Polish neighborhood, the company is formally registered in Luxembourg. This brings specific consequences for anyone wishing to take control.
In the case of standard Polish companies, the obligation to announce a call for the remaining shares arises only after exceeding 50% of the votes.
Meanwhile, in the Grand Duchy the rules are much stricter.
The Żabka prospectus states that in Luxembourg the threshold is 33 and 1/3% of the total number of votes, after which the obligation to announce a call arises — said Jacek Barszczewski, KNF spokesperson.
Interestingly, we have a legal hybrid. The obligation to announce a call comes from Luxembourg regulations, but the procedure, valuation, and offer terms would be governed by Polish law.
See also: Will Żabka shares heat up the GPW? The Polish giant wants to become the “European 7‑Eleven.”
CVC deals the cards, and shares on a rollercoaster
The largest shareholder of Żabka remains the CVC fund, indirectly controlling 37,6% of the shares. The second significant player is PG Investments Company with a block of 10,01%.
None of these entities have yet disclosed their price intentions or readiness to sell shares.
If Seven & I Holdings decides to buy the entire block from CVC, it will automatically exceed the 33,3% threshold and be forced to announce a call for all remaining shares. This could directly open the door to delisting the company from the Warsaw Stock Exchange.
An alternative scenario is the purchase of a smaller block, allowing the Japanese to expose themselves to the dynamic Polish market without making a century‑old financial buyout.
The stakes are huge. Currently, the entire Żabka is valued at over 33 billion PLN, and the company’s shares cost about 31,66 PLN each.
That’s 53% higher than the valuation at the IPO in the fall of 2024.
The Japanese newspaper “Nikkei” estimates that the planned investment could range from a few hundred million to several billion USD (converted from hundreds of billions of yen).
This means many options, from a block worth nearly 5 billion PLN to an engagement exceeding 20 billion PLN.
Chart. Żabka Group S.A. share price.
Source: TradingView.
See also: Are CD Projekt shares before the breakthrough? GPW waits for the Witcher 3 DLC. The expert points to potential dates.
Sources: Money, Rzeczpospolita.
