Czech companies Nordic Investors and PPF are planning to jointly invest in real estate by mutual acquisition of their stakes, reports seznamzpravy.cz.
Renáta Kellnerová (PPF) and investor Tomáš Otruba (Nordic Investors Group) will expand their partnership into the real estate business. Kellnerová will acquire a stake in Otruba's Nordic Investors group. Otruba, in turn, will have a stake in some of PPF's real estate projects. He will now have a stake, for example, in the Hilton Hotel in Prague, which PPF bought at the end of last year.
"After approval by the relevant regulators, Renáta Kellnerová will enter the shareholder structure of Tomáš Otruba's Nordic Investors Group (NIG). NIG has been the majority owner of the Harmony Hotel in Špindlerův Mlýn since last year, in which Renáta Kellnerová also has a stake. Both investors intend to implement other joint investments in the hotel and real estate industry through NIG," said Tomáš Perman, a spokesman for Kellnerová and Otruba, according to Seznamzpravy.
PPF Group has big plans in real estate. As SZ Byznys reported, it is currently negotiating the purchase of another luxury hotel in Prague, the Four Seasons. PPF is working on this transaction in tandem with billionaire Michal Strnad from the arms group Czechoslovak Group.
