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.

Similar Stories:

Potential Czech rate rise looms as CNB drops another hint
A second member of the Czech National Bank's board has come out in favor of a rise in  »
PPF's 2017 profits fall below €1bn
The financial group PPF saw its profits plummet by CZK 9.1bn in 2017 to a mere CZK 16.5bn,  »
DEMIRE successfully starts the financial year 2018
DEMIRE Deutsche Mittelstand Real Estate AG has continued its solid performance in the firs  »
SIA Group takes over First Data business in Central and Southeastern Europe
Italian corporation SIA is taking over First Data Corporation in Central and Southeast Eur  »
The future is not out of our hands. Indeed, the main purpose of organised real estate is t   »
Lower prices means lower costs for manufacturers and carriers, and thus reduced product pr   »
The most important thing is client understanding. Quite simply, clients need a much greate   »