Kaprain has acquired a majority share in the development project Oaks Prague

Investment company Kaprain of billionaire Karel Pražák has acquired a majority share in the development project Oaks Prague in Nebřenice near Prague. The share was acquired from the only shareholder so far, lawyer and investor Bohumil Koutník. The value of the transaction is unknown. Russian businessmen Alexander Abramov and Alexander Frolov started building a luxurious village near the capital. After the outbreak of war in Ukraine in February of this year, they sold the project to Koutník's company Eurocapital SE.

The Kaprain Group acquired a majority share from Koutník, to whom it previously provided partial financing for the purchase of the project from the previous foreign owners. Koutník remains a minority shareholder, Kaprain announced yesterday.

"We are entering the Oaks Prague project with a simple goal - to make maximum use of and further develop its potential," said Kaprain Group Development Director Jan Kozler. According to him, the project will enrich the lives not only of residents, but also of people in the vicinity.

According to Hospodářské noviny, the original Russian owners invested roughly four billion crowns in the project. It came into Czech hands for less than half of this amount, the server reports.

Russian co-owners of the steel concern Evraz Abramov and Frolov started building the luxury village in Nebřenice in the Praha-vychod district six years ago. The first of more than a hundred apartments and villas in the extensive complex has been completed, is under construction or in preparation. The first residents will take over in the fall of this year, Kaprain said. Gradually, almost 500 families will live in Oaks Prague. They will have at their disposal a new kindergarten, shops and facilities for leisure activities, including a golf course.

The new majority owner of the Oaks Prague project, Pražák, is a former associate of the founder of the PPF financial group, Petr Kellner. It includes the Ústí chemical company Spolchemie, the Prague outlet center Pop, the business project Pařížská 25, the Harfa office complex and also the hockey club Sparta Prague.

Source: Hospodářské noviny HN.cz and CTK