Matt Atlas

Widow Of Czech Billionaire Listed As Top Moneta, O2 Czech Shareholder

Renáta Kellnerová, the widow of the late majority owner of the PPF group, Peter Kellner, was appointed administrator of his estate. As such, it is managed as the holder of the corresponding ownership shares in companies regulated by the CNB. Kellnerová is taking over the ownership of PPF shares.

“Ms. Kellner’s appointment as administrator does not in any way mean that the inheritance proceedings are closed. Ms. Kellner also represents the family in the meetings of the newly formed PPF Group Steering Committee, which serves as an advisory body to PPF Executive Director Ladislav Bartoníček,” said PPF.

Kellner died in late March in a helicopter crash in Alaska. According to the announcement in the Central Repository of Regulated Information at the CNB, there was a change concerning the end owner of shares in O2 CR companies a Moneta Money Bank. According to the first announcement, Kellner became the owner of 83.57 percent of O2 shares through the chain of companies and the PPF group. The second announcement states that Kellner now controls 29.94 percent of Moneta’s shares.

The PPF Financial Group is chaired by a four-member steering committee, which was established in April. The members are both minority shareholders of the group Ladislav Bartoníček and Jean-Pascal Duvieusart, financial director Kateřina Jirásková and lawyer Tomáš Brzobohatý. Kellner also regularly participates in the meeting. “The committee is an advisory body to Bartoníček, and from the logic of the matter, the fundamental business decisions of the PPF Group are now being discussed here,” said PPF spokesman Leoš Rousek.

Bartoníček is in charge of telecommunication assets and biotechnology, Duvieusart repayment group Home Credit, Jirásková is responsible for the financial condition of PPF and Brzobohatý, who represents the interests of Kellner’s wife and four children, is in charge of the merger of Air Bank with Moneta Money Bank.

PPF invests in a number of industries, from financial services to telecommunications, media, biotechnology, real estate to engineering. PPF operates in Europe, Asia and North America. At the end of 2020, it employed more than 94,000 people worldwide. PPF has its corporate ownership and management structure in the Netherlands. Until his death, the majority owner of PPF Group, NV was the richest Czech, Kellner, who, according to the company’s annual report, controlled 98.93 percent of PPF.

Last year, for the first time in its thirty-year history, PPF fell into a loss of 291 million euros (7.42 billion CZK), while a year earlier it achieved a net profit of 1.005 billion euros (25.5 billion CZK). In the second half of last year, it achieved a profit of 93 million euros (2.4 billion CZK), while in the first half it was a loss of 384 million euros (9.5 billion CZK).