J&T and PPF Form an Energy and Industrial Holding Company
The new company will control over 20 businesses currently active in power and heat generation, power trading, power boiler and turbine manufacturing, energy plant installation and other related fields. The holding company also has interests in passenger bus manufacturing as well as in the food industry.
“We believe the joint holding company formed with J&T and Daniel Křetínský has considerable growth potential. Our investment in this new venture is representative of the way in which PPF seeks to capitalise on new, emerging opportunities brought by the current market. In maximising this and all our portfolio investments, PPF will not to limit its investments to the home markets of the Czech Republic and Slovakia. We will continue to look selectively into investment opportunities in other countries of Central and Eastern Europe, Russia and the CIS countries,” said Jiří Šmejc, a shareholder of the PPF Group, commenting on the transaction.
“We welcome PPF’s investment as a major milestone for the newly-formed holding company. This move will enable us to accelerate our acquisition activities in the energy and industrial sectors, which have become very attractive due to the current economic situation,” said Daniel Křetínský, J&T's Partner responsible for corporate investments.
The process of establishing the holding should be formally completed within the next three months.