In Business News this week: 2015 growth seen reaching almost 4.0 percent; takeover bid reported for Unipetrol; massive bill presented to Vítkovice boss; Karlovy Vary mineral water giant snaps up domestic rival; and state emergency reserve considers live animals over dead meat.
Economic growth in 2015 seen at just under 4.0 percent
Consortium buyout offer reported for main Unipetrol shareholding
The Czech Republic’s biggest oil and petrochemical holding, Unipetrol, is the subject of a 30 billion crown bid from a consortium made up of Czech businessman Daniel Křetínský, the J&T Group, and PPF investment group. Business daily Hospodářské Noviny revealed the bid citing several independent sources. The Czech holding is currently majority owned by Poland’s PKN which is reported to be mulling the bid. J&T has long been the second biggest shareholder in the group which numbers among its assets the biggest network of Czech petrol stations, Benzina, and dominant refiner, Česká Rafinérská.
Vítkovice shareholder wins major payout ruling over shares in engineering giant
KMV to acquire Czech mineral water rival
The biggest Czech mineral water company, Karlovarské Minerální Vody, is strengthing its grip on the domestic market with the purchase of rival Hanácká Kyselka. KMV previously had a 30 percent stake in the firm. The owner of the 70 percent stake, investment group D.K. Invest, says it is selling up in the face of shrinking sales over the last two years. The Karlovy Vary based mineral water company says it will invest in the brand and seek new markets.