J&T seeks assurance from CEFC over financial status

J&T seeks assurance from CEFC over financial status

Published at: 2018-03-13 06:53 | Author: CIJEurope.com
The Chinese group CEFC recently mortgaged several of its properties in the Czech Republic as part of what it called a normal financial rebalancing exercise. But more appears to be at stake, as Reuters is reporting that J&T Finance Group has put on hold discussions over the planned sale of a larger stake in the Czech – Slovak company. J&T appears to have been spooked by reports that CEFC's chairman was under investigation. “If CEFC does not disprove satisfactorily news of major economic problems of the group and clearly explain the reasons of the alleged prosecution of its senior official, the completion of the long-prepared transaction for entry to J&T Finance Group is unacceptable,” J&T said in a statement.

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