PPF is exiting the industrial part of EPH
PPF Group is announcing that, following the split of Energetický a průmyslový holding (“EPH”) and the spin-off of its industrial part under the new name “EP Industries” from the former EPH public company, the Group has agreed with the other EPH shareholders to sell its interest in EP Industries.
Once the Office for the Protection of Competition of the Czech Republic, whose approval is required for the completion of the transaction, has approved it, PPF’s interest in EP Industries will be settled and subsequently PPF Group will not hold any shares in the newly formed company.
All energy assets remain with EPH, in which PPF Group has a 40% interest. J&T holds another 40% in EPH through private equity structures and 20% of the shares belong to Daniel Křetínský who is in charge of management. EPH will conduct business in the energy sector through EP ENERGY, its wholly-owned subsidiary.
Jiří Šmejc, PPF Group shareholder, comments: “When becoming a shareholder of EPH, PPF Group declared its preference for long-term investments in the energy sector. The agreement between the shareholders, resulting in the spin-off of the industrial part and PPF Group’s departure, just follows the logic of our investment strategy. PPF Group is prepared to continue supporting the acquisition growth of EPH together with both of its co-owners, J&T Group and Daniel Křetínský, and to increase its investment presence in the energy sector.”