10/15/2009
Energetický a Průmyslový Holding has set up its ownership structure and commenced activities.
Acting through its private equity PPF Partners structure, the PPF Group acquired 40% of the shares in ENERGETICKÝ A PRŮMYSLOVÝ HOLDING, J&T is participating in the holding with a 40% share held through its private equity structures, and the remaining 20% of the shares are held by Daniel Křetínský, who is no longer a partner in the J&T Group.
“Entering into the ENERGETICKÝ A PRŮMYSLOVÝ HOLDING is another step forward in PPF’s strategy to diversify investment activities. Within the framework of our position in the holding, we want to take advantage of our capital strength and know-how in the region. The holding is one of the largest independent energy entities in the Czech Republic and, as such, presents a realistic platform for additional growth, whether in the form of acquisitions or through green-field projects. We believe that, acting in concert with the holding management, we will successfully use this potential to create added value,” stated Ladislav Bartoníček, a PPF Group shareholder.
“Just the first months of our cooperation with PPF have already proven the soundness of our intention to create an independent holding company for the energy and industry sectors and offer a significant investor access to the holding,” said Patrik Tkáč speaking on behalf of J&T. “Inviting PPF to join the holding started fulfilling the main objective behind the invitation early on, specifically to take maximum advantage of the opportunities that are offered by the global economic situation. I am convinced that Energy and Industrial Holding has all the prerequisites to at least sustain the same tempo of growth that it has had up to now,” added Tkáč.
“ENERGETICKÝ A PRŮMYSLOVÝ HOLDING will continue to strengthen its position as a strategic investor in the energy sector. At the same time, we want to maintain our position as a significant investor in the industry sector,” explained Daniel Křetínský, the chairperson of the holding’s board of directors.
“Our further development in the energy sector is founded primarily on using the acquisition opportunities that exist on the market. In addition however, we are also working intensively on developing new energy sources,” he emphasised. “As far as the industry sector is concerned, in addition to energy we also plan to enter into new enterprises in selected cases,” added Křetínský.
The managerial team led by Daniel Křetínský, which represented J&T’s corporate investment sector for the CR, is transferring over to the holding and will be responsible for its management. Křetínský’s scope of authority includes the task of appointing the members of the holding’s board of directors. However, significant powers will be held by the holding’s supervisory board, which, amongst other things, will approve acquisitions and divestments of property shares. Jiří Šmejc, Ladislav Bartoníček and Robert Ševela will represent PPF on the supervisory board by. Ivan Jakabovič, Martin Fedor and Miloš Badida will be on the holding’s supervisory board on behalf of the J&T structures.
ENERGETICKÝ A PRŮMYSLOVÝ HOLDING includes over twenty companies involved in heat and energy production, electricity trading, the manufacture of energy generating boilers and turbines, energy installations, and additional related fields. The holding also includes bus manufacturers and companies from the food industry.
It is expected that in the future the holding will be expanded to include, amongst others, MIBRAG – a German-based mining company, International Power Opatovice and Elektrizace železnic Praha.
The total consolidated operation profit (EBITDA) of the companies that belong to the holding exceeded CZK 4.3 billion in 2008. The holding companies currently employ approximately 6,000 people and in 2008 generated cumulative revenues of more than CZK 30 billion. The holding, which currently has resources with a total installed capacity of 330 MWe, is continuing successfully towards meeting its goal of increasing the total installed capacity of its sources to approximately 1,000 MWe by 2012.
Martin Maňák
Director of Communications
ENERGETICKÝ A PRŮMYSLOVÝ HOLDING