March 25, 2015 / 4:35 PM / 5 years ago

UPDATE 1-J&T Private Equity takes stake in Slovenia's Petrol

(Adds investor’s comment, market valuation)

PRAGUE, March 25 (Reuters) - A unit of J&T Private Equity Group (JTPEG) has acquired a stake of more than 7.9 percent in Petrol, Slovenia’s main fuel retailer, the firm said on Wednesday.

Petrol operates 479 filling stations in Slovenia, Croatia, Bosnia, Serbia, Montenegro and Kosovo and posted a net profit of 60.7 million euros ($67 million) last year.

The stake was acquired by J&T Investment Opportunities Ltd, a subsidiary of JTPEG.

JTPEG has been spun off from the banking activities of the closely held Czecho-Slovak financial group J&T. Its assets include a minority stake in Czech oil refining and petrochemicals firm Unipetrol.

JTPEG project manager Libor Kaiser told Reuters the stake was acquired from multiple investors and the company did not rule out raising it further.

He declined to disclose the price paid but said it reflected prices on the open market.

Petrol’s shares traded at 279 euros on Wednesday, valuing the company at 582 million euros ($640 million). ($1 = 0.9117 euros) (Reporting by Jan Lopatka; Editing by Greg Mahlich)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below