Daniel Křetínský’s EPH sold Pražská teplárenská to Veolia. The transaction price has not been revealed.. The deal has yet to be approved by the Office for the Protection of Competition (ÚOHS). Veolia will also acquire Hungarian heat producer Bert. EPH holds a 100% stake in Pražská teplárenská through EP Energy. Křetínský stated that Veolia had […]
Petrof, a leading European manufacturer of pianos headquartered in Hradec Králové, lost a CZK 5 million deal to supply pianos to China due to Chinese backlash after Senate President Miloš Vystrčil led a delegation to Taiwan. According to the company’s president and owner, Zuzana Ceralová Petrofová. According to Petrofová, a client in Beijing canceled a […]
Retail sales in the Czech Republic increased by 1.9 percent year-on-year in July and grew by 1.8 percent month-on-month according to calendar adjusted data from the Czech Statistical Office. In June, according to revised data, retail sales fell by 1.4 percent year on year. Sales of non-food goods grew the most. On the contrary, the […]
Sales of passenger cars in the eight months of the year fell by 25 percent to 131,410 vehicles. In August, sales fell by a third year-on-year due to a higher comparable base last year, when more lenient emissions standards came to an end. According to the Association of Car Importers, interest in new cars has […]
The more than six-month insolvency proceedings of the Mladá fronta publishing house are over. During Wednesday’s online auction, two bidders competed for the media house. In the end, PP Partners’ entrepreneur Andrej Čírtek came out of the fight better, overpaying the bids of Aleš Zavoral’s A11 publishing house with an amount of over 50 million […]
Consumer prices in the euro area fell by 0.2 percent in August, up 0.4 percent a month earlier. According to the European statistical office Eurostat in its quick estimate. Inflation has been negative for the first time since 2016, at a time of coronavirus constraints and economic impacts. The quick estimate does not include data […]
The Czech economy contracted by 11 percent year on year and 8.7 percent quarter on quarter in Q2. The most significant drop in the country’s history. The result was negatively affected by the decline in foreign demand, according to the Czech Statistical Office. At the end of July, statistics estimated a year-on-year decrease of 10.7 […]
Entrepreneur Michal Strnad sold the South Bohemian engineering company Kovosvit MAS to the Russian investment fund Trust Union Fund. The price of the transaction was in the hundreds of millions of CZK. Strnad was looking for an investor for over a year. Trust owns an industrial group in a similar field in Russia. They plan […]
Czech Airlines and Smartwings petition for an extraordinary moratorium was granted by the Municipal Court in Prague today. The extraordinary moratorium is valid for three months, and it can be extended by a quarter of a year under exceptional circumstances. Both companies will continue to fly. Bankruptcies cannot be declared for the companies during the […]