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Billionaire Kellner Family Shifts Focus Back to Europe From Asia

  • PPF wants Home Credit to exit China, revamp other Asia units
  • CEO eyes investments in industries where PPF is already active
Jiri Smejc 
Jiri Smejc Source: PPF

The Czech billionaire Kellner family is shifting investment focus back to Europe as it plans to exit its consumer-lending operations in China and trim its presence in other Asian markets.

The Kellner’s investment company PPF Group NV is revamping strategy following last year’s death of its founder Petr Kellner. The family, which has a net worth of $12.3 billion according to the Bloomberg Billionaire Index, has picked the founder’s long-time investment partner Jiri Smejc to run the business that operates in 25 countries and in industries including financial services, telecommunications, media, biotech and real estate.