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CEFC continues with expansion to Czech market

Chinese investment company CEFC China Energy Company Limited continues with its expansion to the Czech market. CEFC announced the acquisition of almost 50% stake in Travel Service on Saturday September. Later, brewery Pivovary Lobkowicz Group (PLG) announced on Sunday September 6 that a firm co-owned by CEFC (70%), firms from J&T Private Equity Group (20%) and PLG’s CEO and board of directors chairman Zdenìk Radil (10%) is buying the majority stake of 79.4% in Pivovary Lobkowicz Group. The transaction is worth totally CZK 1.9bn. Médea Group and Empresa Media also announced their strategic partnership with CEFC on Sunday. CEFC will acquire minority stakes in the companies and will act as a strategic and financial partner. Last week, CEFC acquired the Martinic Palace on Hradèanské Námìstí square, Živnobanka building in Prague and the majority stake in football club Slavia. President Miloš Zeman estimates that CEFC could spend ca. CZK 10bn in CR within the first wave of investments.

Source: www.cianews.cz