Tykac's firm buys 1% of CEZ in value of billions of crowns

Cyprus-based company Belviport Trading Limited owned by Czech billionaire Pavel Tykac bought 1% of shares in Czech semi-state energy group CEZ, according to information published in the Central Storage of Regulated Information of the Czech National Bank (CNB).

The price of the deal was not disclosed.

According to the current price of CEZ shares on the Prague Stock Exchange (BCPP), the value of the purchased stake of 5.38 million shares should amount to about CZK 4.38bn.

CEZ is the largest Czech energy company. It is majority owned by the state, which holds about 70% via the Finance Ministry.

Tykac owns Belviport Trading Limited via company Clamount Investments Limited. He is also the owner of Czech energy company Sev.en Group, which includes brown-coal power plants Chvaletice and Pocerady, two heating plants and two brown-coal quarries in northern Bohemia.

Firms from the Sev.en Group made transactions with CEZ amounting to billions of crowns in the past. In 2013, Sev.en Group bought the Chvaletice plant from CEZ for CZK 4.12bn.

Last year, Sev.en's unit Vrsanska uhelna bought the Pocerady plant from CEZ. The purchase price was agreed at CZK 2.5bn, but with regard to the settlement of other obligations, the total acquisition price exceeded CZK 9bn, according to server Ekonomicky denik. Vrsanska uhelna used to supply coal to CEZ.

According to information from the media, Belviport has traded in shares of several large Czech firms, including pharmaceutical company Zentiva, telecom operator O2 and Moneta Money Bank.

Source: CTK
Photo: Pavel Tykac, Sev.en Group