June 13, 2018 / 11:57 AM / 4 months ago

China's CITIC files for approval of taking over Czech CEFC - watchdog

PRAGUE, June 13 (Reuters) - A unit of China’s state-owned conglomerate CITIC has filed a request for antitrust approval to take full control over Czech assets of troubled private Chinese group CEFC China Energy, Czech competition watchdog UOHS said on Wednesday.

The Czech assets involved are the CEFC Europe firm, holding interests in hotels, real estate, engineering and a sports club and Lapasan, through which CEFC holds a majority stake in beer brewer Lobkowicz.

The UOHS did not mention Czech airline Travel Service in which a China-based CEFC entity holds 49.9 percent interest.

The CITIC entity filing the request was British Virgin Islands-based Hengxin Enterprises Limited and it would take over the Czech firms via Hong Kong-based Rainbow Wisdom Investments Limited, UOHS said.

No decision has been made in the matter, UOHS said.

Last month, CITIC stepped in to pay some 12 billion crown ($549.05 million) debt owed by CEFC Europe to Czech financial group J&T. ($1 = 21.8560 Czech crowns) (Reporting by Jan Lopatka)

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