PPF Group and Milan Janků agree on the final ownership structure of PPF ECM Holding
03/24/2010
PPF Group and Milan Janků as the future co-shareholders of PPF ECM Holding B.V. are announcing that they have reached an agreement on the procedure of legal steps towards the foundation of a joint venture. PPF Group N.V. will hold 75% of voting rights in the new holding and Milan Janků 25% of voting rights. The transaction has obtained the approval of the relevant antitrust authorities in the countries where the holding will operate.
PPF ECM Holding’s portfolio will include 42 projects in the Czech Republic, Slovakia, Russia, Romania, and Ukraine at the time of its formation. PPF Group will contribute the full portfolio of its real estate projects and Milan Janků will contribute his interests in development and other related projects such as PSJ, Domus Eventis, and Carrefour SK.
Contrary to previous assumptions, the holding will not include Milan Janků’s interest in ECM Group. As announced earlier, Milan Janků retains full control over ECM REAL ESTATE INVESTMENTS A.G (ECM REI), listed on the Prague Stock Exchange, through ECM GROUP N.V. PPF ECM Holding is not and will not become an ECM REI shareholder.
Notes:
A PPF ECM Holding subsidiary, PPF ECM Advisory s.r.o. provides a comprehensive range of development services, including project management, asset management, acquisitions, financing, feasibility studies, sale and lease, marketing, and exit management to real estate market clients on the basis of service agreements. As a result, PPF ECM Advisory participates in the development of ECM REI projects.
PPF ECM Holding’s portfolio will include 42 projects in the Czech Republic, Slovakia, Russia, Romania, and Ukraine at the time of its formation. PPF Group will contribute the full portfolio of its real estate projects and Milan Janků will contribute his interests in development and other related projects such as PSJ, Domus Eventis, and Carrefour SK.
Contrary to previous assumptions, the holding will not include Milan Janků’s interest in ECM Group. As announced earlier, Milan Janků retains full control over ECM REAL ESTATE INVESTMENTS A.G (ECM REI), listed on the Prague Stock Exchange, through ECM GROUP N.V. PPF ECM Holding is not and will not become an ECM REI shareholder.
Notes:
A PPF ECM Holding subsidiary, PPF ECM Advisory s.r.o. provides a comprehensive range of development services, including project management, asset management, acquisitions, financing, feasibility studies, sale and lease, marketing, and exit management to real estate market clients on the basis of service agreements. As a result, PPF ECM Advisory participates in the development of ECM REI projects.