Mario Hoffmann's ISTROKAPITAL SE and entities close to J&T have agreed on the settlement of assets worth EUR 500 million. The transaction pertains to joint activities in Poštova banka, in J&T Finance Group SE and in J&T Private Equity Group, where Mario Hoffmann decided to end his active involvement. The agreement also includes J&T’s acquisition of a share in Axon Neuroscience.
As part of the settlement of banking activities, ISTROKAPITAL SE will sell its 8.45% share in Poštová bank to J&T Finance Group SE (JTFG), which will then own a 98.45% share in Poštová banka.
At the same time, Mario Hoffmann will settle his 24% share in JTFG. Jozef Tkáč (47.5%) and Ivan Jakabovič (47.5%) will remain shareholders of the banking and financing holding J&T, along with the private Chinese company CEFC Shanghai International Group Limited (5%), which is part of China Energy Company Limited.
“I respect Mario Hoffmann both professionally and personally. I understand his decision to go his own way; for this reason, we proposed purchasing his shares, an offer which he accepted. After years of excellent cooperation, we thus decided to divide up and settle our joint activities in J&T. We will now be working together on Alzheimer’s research,” says Patrik Tkáč, Deputy Chairman of J&T Finance Group SE.
“I have been involved in the world of business for 20 years. I have always had a sound and friendly relationship with J&T, but I have decided to focus my efforts on Axon Neuroscience. We have successfully completed the first phase of clinical trials in the development of a vaccine against Alzheimer’s disease, which gives hope to millions of patients fighting this debilitating illness. My plan is to spend most of my time and energy on this project,” said Mario Hoffmann, Chairman of the Board of Trustees of ISTROKAPITAL SE.
The agreement applies to non-baking activities as well, specifically to the sale of a 9.9% share in J&T Private Equity Group. Furthermore, a 10% share in Axon Neuroscience SE will be sold to J&T for EUR 100 million, which is part of the price of the sold shareholdings. Today, Axon Neuroscience SE is one of the world’s leaders in efforts to find new treatments for Alzheimer’s diseases and other neurodegenerative illnesses. It became the first company in the world to successfully complete the first phase of a clinical trial with a vaccine aimed at reducing Tau pathology, which is, even according to the latest research conducted by Mayo Clinic Florida, the main factor affecting the development of this disease.