Slovak billionaire Fiľo relocating to Prague

Slovak billionaire Milan Fiľo, who bought the former monastery complex at nám. Republiky in Prague 1, is relocating from Ružomberok, Slovakia, to Prague. The businessman plans to merge his Slovak-based holding, Eco-Invest, with his Czech company Eco-Investment. Fiľo declined to comment on the move, causing Czech daily Hospodářské noviny to speculate that the Czech Republic’s lower taxes may be behind the relocation. Fiľo paid CZK 790m in an auction for the historic u Hybernů monastery and has not yet announced what he plans to do with the property. In January 2015, he took over Hybernia, which operates the theater at nám. Republiky next to the monastery. Eco-Investment is based at the Hybernia palace.