Czech Billionaire Kretinsky to Control 94% of Power Utility EPH
- Kretinsky will boost shareholding following reshuffle
- EPH has expanded into U.K., Italian, German Power Plants
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Czech billionaire Daniel Kretinsky will control 94 percent of Energeticky a Prumyslovy Holding AS following the sale of a minority stake in its infrastructure unit and a subsequent shareholder reshuffle.
Kretinsky, who serves as the energy group’s chairman, struck a deal with J&T investment group and EPH co-founder and fellow billionaire Patrik Tkac, who will receive 1.7 billion euros ($1.9 billion) to 2.7 billion euros plus interest over the coming years, EPH said in an e-mailed statement. The remaining 6 percent in the company will be controlled by selected EPH managers, the company said.