The owners of J&T FINANCE GROUP, a.s. and ISTROKAPITAL SE have agreed to link the capital of both companies. They are getting ready to enter new financial markets. Through capital increase, ISTROKAPITAL SE will acquire 24% of J&T FINANCE GROUP’s share capital.
"Mario Hoffman joining the shareholder structure of J&T is a logical outcome of cooperation of almost 15 years. Today, both groups are one of the leading companies on the Slovak market, but when we consider entering financial markets in countries such as Poland or Russia, we get into an area with much bigger players. Therefore, after many years of flirting with the idea of linking both groups, we finally identified a strong enough reason to realize it,” Jozef Tkáč, J&T President, commented on with regards to the agreement.
“I consider J&T and its founders to be our closest business partners that we get along with not only in terms of business but also personally. The linkage of holdings creates a platform for the realization of financial projects, as well as for further joint investment interests and the development of new important projects. One is definitely the break-through biotechnological project of AXON, which should for instance result in a cure for Alzheimer’s,” Mario Hoffman, Chairman of ISTROKAPITAL Board of Directors, commented.
The new shares of Jozef Tkáč and Ivan Jakabovič will be identical, equaling 38%. The transaction is subject to approval by the regulatory authorities in Slovakia and the Czech Republic, and by the Antimonopoly Office of the Slovak Republic.
The J&T Group focuses on the provision of complex services related to private banking, asset management for private clients and institutions, investment banking and project financing. It provides its services mainly on the markets in the Czech Republic, Slovakia and the Russian Federation. More on www.jtfg.com.
ISTROKAPITAL SE, which started to operate in 1996, is one of the leading financial groups in the Central European region. Companies of the ISTROKAPITAL Group provide complex services mainly in the field of banking and finances.
author: JUDr. Nikol Kubaská