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April 27, 2018 12:00 am | FILED UNDER: business

KKCG To Bid On innogy Groups Czechia Assets

By ČTK innogy assets

Prague, April 27 (CTK) – KKCG investment group of entrepreneur Karel Komarek plans to submit a bid for all assets of innogy group in the Czech Republic, the group’s spokeswoman Dana Dvorakova told CTK today.

 

According to information of media from the past week, Australian investment group Macquarie is also interested in innogy’s Czech part. It already owns almost 50 percent in innogy Grid Holding, involved in gas distribution in the Czech Republic.

 

“We cannot comment on the bids at the moment, everything is just at the beginning,” innogy CR spokesman Martin Chalupsky told CTK today.

 

“At this moment, we really consider purchase of assets of innogy’s Czech part, we are preparing a bid which we plan to formally submit in the horizon of several days,” Komarek said today.

 

“We want to seriously focus on this business opportunity because it fits in our long-term strategy for development of the energy part of our group, represented by companies of MND group which is doing business in the same segments like innogy,” he added.

 

By this, Komarek means in particular the area of electricity and gas supplies to households and companies and operation of underground gas storage tanks, he remarked.

 

“MND group is one of important players on the Czech energy market and a successful takeover of innogy’s Czech part would mean a significant strengthening of MND group’s position on its domestic market,” Komarek added.

 

Komarek owns KKCG group and is chairman of the board of MND.

 

Potential sale of innogy activities in the Czech Republic is in harmony with an earlier agreement on the European level on innogy split, signed by RWE parent company with rival E.ON., KKCG said.

 

Reuters agency said today that RWE would submit a bid for the takeover of the stake which innogy has in innogy Grid Holding, a joint venture of Germany’s innogy and Macquarie.

 

Macquarie has also other activities in the Czech Republic besides this stake. One of its funds last year acquired 31 percent in EP Infrastructure (EPIF), a key subsidiary of EPH group of entrepreneur Daniel Kretinsky.

 

innogy supplies natural gas and electricity and provides also other services to about 1.7 million customers in the Czech Republic.

 

It operates 65,000 kilometres of distribution networks and six underground tanks storing natural gas, has 14 heat and electricity generation facilities and ranks among the largest CNG (compressed natural gas) sellers on the Czech market, distributing the gas via its own network of CNG stations.

 

innogy, operating under the name RWE until October 2016, employs over 4,000 people in the Czech Republic, and has an 86 percent share of the gas distribution market.

 

KKCG has assets whose value is estimated at EUR4.8bn (Kc122bn). In the lottery business, it owns Czech Sazka and holds stakes in Austrian Casinos Austria and Greek OPAP.

 

Oil mining and natural gas in MND and ownership of Fischer travel agency is also important. According to Forbes magazine, Komarek is the fourth richest Czech.

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