PPF Group to acquire a majority stake in O2 Arena
PPF announces that it is to acquire KKCG Group’s 50% stake in LINDUS SERVICES LIMITED, following a bidding process concluded on 31st October 2013. LINDUS SERVICES LIMITED controls Bestsport Arena a.s., which in turn operates the Libeň multipurpose venue under the name of the O2 Arena. No further details of the transaction will be published. Once the respective agreements have been signed, the closing of the transaction will be subject to approval from the relevant regulatory authorities.
The O2 Arena is one of the most modern cultural venues in Europe, with capacity for up to 18,000 seats. It hosts dozens of world-class sporting and cultural events, to which it welcomes hundreds of thousands of people every year. The PPF Group sees this step as a long-term investment and aims to continue the venue’s development programme. The name “O2 Arena” will be retained for at least a year.