Radovan Vítek’s CPI Property Group Group is preparing a massive share buyback. It wants to buy up to 650 million of its shares from shareholders. It offers 0.616 euros per share, which means that it intends to pay a total of about 400 million euros for the shares, approximately 10.27 billion crowns. Vítek himself wants […]
CZG Group – Česká zbrojovka Group SE (CZG) has signed a final agreement to acquire Colt Holding Company LLC. The company announced it today. Under the terms of the deal, CZG will acquire a 100% stake in Colt for $ 220 million (CZK 4.7 billion) in cash and 1,098,620 newly issued ordinary shares in CZG. […]
After last year’s record slump, the Czech economy will grow a little faster this year than in previous estimates, according to today’s forecast of the European Commission (EC), which improved the forecast of growth of gross domestic product (GDP) by one-tenth of a percentage point to 3.2 percent compared to the November forecast. The commission […]
The German operator of lignite power plants and mines LEAG – co-owned by the Czech Energy and Industrial Holding (EPH) Daniel Křetínský and the international investment group PPF Investments, whose controlling shareholder is Petr Kellner’s long-term collaborator Tomáš Brzobohatý. – is expanding its activities in Germany. The company became a 100% shareholder in Gaskraftwerk Leipheim […]
For the first time, Maren Gräfová, a woman, will sit on the board of directors of Škoda Auto, and Martin Jahn will also become a new member. Gräfová will now replace the only Czech on the board, Bohdan Wojnar, responsible for human resources. Martin Jahn returns to the carmaker’s board after 13 years, replacing Alain […]
In Prague, the Regional Court declared insolvency proceedings with the investor Pavel Krúpa due to the bankrupt company Arca Investments’ debts. Some of the bills of exchange of this company, from which Krúpa officially left in 2018, bear his signature as a guarantor. The majority shareholder of Arca, Rastislav Velič, has also been facing insolvency […]
Tencent has acquired a minority stake in the Czech game developer Bohemia Interactive. Bohemia will remain independent and continue to operate under the current management team. “We are pleased to deepen our relationship with Tencent, one of the world’s leading Internet and gaming companies. We look forward to working on our current and future projects […]
Last year, the Kofola beverage group’s revenues fell by 3.7 percent year-on-year to 6.17 billion crowns. According to preliminary economic results, the EBITDA decreased by eight percent to CZK 1.03 billion. With a significant market constraint in the last months of the year caused by a coronavirus pandemic, the group closed 2020 slightly above expectations. […]
Moneta Money Bank’s net profit fell to 2.6 billion crowns last year from four billion in 2019. Its operating revenues rose by 15 percent year-on-year to 12.1 billion crowns, mainly due to the acquisition of Wüstenrot. The bank’s financial results were affected by higher risk costs and lower returns due to the current covid-19 epidemic. […]