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CEFC China’s Buying Spree in Czech Republic

CEFC China  

Reuters (correspondent: Jason Hovet) reported on September 6 that CEFC China Energy Company Limited, the sixth largest private company in China, announced to acquire the majority of equity of a brewery company and the equity of an airline company of Czech Republic on Saturday.

 

Czech seeks to strengthen its cooperation with China and facilitates China’s investment. President Zeman is the only western leader who attended the 70th Anniversary Ceremony of Anti-Japanese War of China and World Anti-Fascist War on September 3.

 

Ahead of this event, CEFC China had announced multiple acquisitions including the majority of equity of Slavia Prague, one of the most historical football clubs in Czech.

 

CEFC China announced on Saturday that it has acquired 10% (the company is planning to acquire another 29.92% in future) of Travel Service Airlines, the operator of Smartwings.

 

Mr. Chan Chauto, President of CEFC China, states that investing in Travel Service presents a major opportunity for company’s development in Europe, and CEFC China selects Prague as its headquarters in Europe to invest in multiple industries.

 

CEFC China also owns 70% equity of a SPC, which will acquire 79.4% equity of PivovaryLobkowicz Group with CZK 1.9 billion (US$ 78.46 million).

 

Lobkowicz is the fifth largest brewery company in Czech Republic, and its cooperation with CEFC China will bringing an opportunity to its expansion in Asian market.

 

Earlier this week, CEFC China announced to purchase two buildings in downtown Prague, to increase its share of J&T Finance Group to 9.99%, and it is planning to make another increase to 30% in future.

 

CEFC China also announced on Saturday that it will become a shareholder of MEDEA Group, a media organization, and Empresa Media, a media company.


 
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