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J&T Finance Group spins off private equity investments and founds J&T Private Equity Group

16. December 2013

At the end of this year, banking and non-banking operations of the strong J&T Finance Group will be split up.  Alongside Prague-based bank holding J&T Finance Group SE, the new Cyprus-based J&T Private Equity Group is being established.

“J&T has always been and continues to be built on growth and expansion. The time has now come to factually divide banking and non-banking operations to ensure that there is room for further development. Separating operations will make the entire structure of the group and its owners more transparent,” says Patrik Tkáč, co-founder of J&T Group and Chairman of the Board of Directors of J&T BANKA, about the creation of the new group.

J&T Private Equity Group comprises the group’s assets in the following sectors: energy and industry, real estate, media and sport, tourism, information and communication technology, and science and research. The owners of the new entities will be most of J&T’s former partners. Patrik Tkáč will own 19.9%, and Ivan Jakabovič, Jozef Tkáč, Mário Hoffmann, Branislav Prieložný, Igor Rattaj, Peter Korbačka and Martin Fedor will each own 9.9%. Of importance is the separation of the new holding from the bank holding. This applies even to technical matters, which will be domain of Miloš Badida and Jarmila Jánošová, current J&T group managers, each of whom will own a 5.4% share. J&T Private Equity Group’s objective will continue to be building its position as a leader in M&A transactions.

J&T Finance Group SE comprises a bank holding (private banking: J&T BANKA, including its Slovak branch, J&T BANKA ZAO in Russia and J&T BANK and Trust in Barbados; retail banking: Poštová banka) and services in the field of administration, human resources, accounting, consolidation and tax advisory. The primary shareholders continue to be Jozef Tkáč and Ivan Jakabovič. Once approved by the regulatory authorities, Mário Hoffman, with a 20 - 24% share, and Dušan Palcr, with a 10% share, will become minority shareholders.