Czech Billionaire Kretinsky Gains Full Control in Germany’s LEAG
- Kellner family’s PPF sells 30% stake to focus on other sectors
- EP Group pledges to wean LEAG off coal with gas and renewables
Daniel Kretinsky
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Czech industrial tycoon Daniel Kretinsky has gained full ownership of a major operator of coal mines and power plants in Germany after buying a stake from the billionaire Kellner family.
EP Energy Transition, a unit of Kretinsky’s EP Group, has acquired the remaining 30% in LEAG from the Kellners’ PPF Group NV for an undisclosed price, according to statements from both parties.