PPF, Jiri Smejc Signed Agreement on Division of Assets
OREANDA-NEWS. April 05, 2013. PPF Group informs about the completion of the process of assets division, which had been announced on May 18, 2012 following Jiri Smejc’s departure from the position of PPF Group shareholder.
The appropriate agreements have been signed recently. Jiri Smejc gains a direct shareholding of 13.37% in Home Credit B.V., a holding company for Home Credit Group’s operations, as well as the same direct stake in Air Bank a.s. Dependent on business results of both companies his shareholding can be increased in the future up to 17.5%.
The remaining 86.63% in both companies will be owned by PPF Group N.V. Jiri Smejc continues to hold a position as a Chairman of the Board of Directors and CEO of Home Credit Group. An acquisition of PPF's assets in Greece is part of the agreements as well as an agreed financial consideration in favour of Jiri Smejc. The settlement of the above mentioned agreements is subject to approval of appropriate regulation authorities. Following the settlement of the transaction the shareholding of PPF Group N.V. will be divided as follows: Petr Kellner 98.94%, Ladislav Bartonicek 0.53% and J.-P. Duvieusart 0.53%.
The agreements are based on market valuation of PPF Group N.V. A long-term strategy of PPF Group, which combines full ownership and managing control of assets with investments alongside key business partners, remains unchanged.
Jiri Smejc, who pursuant to the signing of the above mentioned agreements will become PPF Group’s business partner, was born in 1971; a graduate of the Charles University, Prague, Faculty of Mathematics and Physics, with a degree in Mathematical Economics. He went into business in 1992 and in he became the Executive Officer and Director of PUPP Consulting s.r.o. In 1995 he served as Sales Director in Middle Europe Finance s.r.o., a securities trader focusing on acquisitions. He was an owner of 34% of TV NOVA Group until 2004 when he started working at PPF Group. In 2005 he became PPF Group’s shareholder by gradually gaining a 5% share. He was predominantly responsible for managing banking assets as well as PPF operations in Russia. Currently he is a Chairman of the Board of Directors and CEO of Home Credit Group.
Notes for Editors
PPF Group
PPF Group invests into multiple market segments such as banking and financial services, insurance, real estate, energy, metal mining, agriculture, retail and biotechnology. PPF's reach spans from Central and Eastern Europe to Russia and across Asia. PPF Group owns assets amounted to EUR 17.6 billion (as of 30 June 2012).
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