Dec. 6 (Bloomberg) -- Czech billionaire Radovan Vitek said Czech Property Investments AS and eastern Europe’s real-estate developers Orco Property Group SA and Ablon Group Ltd, in which Vitek holds stakes, may cooperate in the future.
“For the future, there’s a possibility that CPI, Ablon, and Orco will cooperate on acquisitions, development and property management,” Vitek said yesterday in a statement.
CPI announced yesterday that it will purchase a 30 percent stake in Ablon and may possibly acquire the remaining stake in the Hungarian developer later on.
CPI already controls 30 percent stake in Orco.
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