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Summary of transactions
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(1996 – 2008)
2008 witnessed the final stage in the transformation of Ceska pojistovna into the leading insurance provider in the Czech Republic. Previously, it was as a large, outdated, unwieldy organisation with a reputation for poor customer service. PPF Group rebuilt Ceska pojistovna into a world class institution with a market share of over 30% in the Czech Republic by 2008.
The transformation of Ceska pojistovna was so successful that it attracted the attention of Assicurazioni Generali S.p.A. (“Generali”) – Europe's third largest and Italy's leading insurer. The result was the establishment of Generali PPF Holding – a Generali and PPF Group joint venture where Ceska pojistovna is a key asset.
PPF Group received EUR 1.1 billion in cash as part of the joint venture transaction, from which it was able to make further strategic investments, and today it has a 49% interest in the holding company.