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Czech group PPF in talks to sell its stake in EPH - sources
December 9, 2013 / 9:31 AM / 4 years ago

Czech group PPF in talks to sell its stake in EPH - sources

PRAGUE, Dec 9 (Reuters) - Czech investment group PPF is in talks to sell its stake in EPH, a holding group that owns energy companies around central Europe, sources from the involved parties said on Monday.

Two sources from companies involved in the talks confirmed to Reuters reports in Czech daily Lidove Noviny and business news website that negotiations were underway, but said they had not reached any conclusions.

The companies declined to comment.

PPF, owned by the richest Czech businessman Petr Kellner, holds 44.4 percent in EPH, which owns a stake in the Slovak gas pipeline and distribution firm SPP, lignite miner Mibrag in Germany, and a number of electricity and heat producers in the Czech Republic and Germany.

Lidove Noviny said PPF’s stake was worth an estimated 1.2 billion euros ($1.6 billion), while said Kellner would get 1.1 billion.

The media said the stake will most likely be taken over by two remaining EPH shareholders, investment group J&T and Daniel Kretinsky, the head of EPH.

$1 = 0.7308 euros Reporting by Jan Lopatka; Editing by Mark Potter

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