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PPF Group's History

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PPF Group's History Sea rch Me nu PPF Contact Group Overview People Financial Results Financial Reports Strategy History Case Studies Factsheet PPF Group's History Present Yearly Overview Beginnings Summary 2015 PPF Group and EMMA Group signed agreements regarding sales of certain shares in Home Credit B.V., Air Bank a.s. and Eldorado Ltd. As a result of these agreements, PPF Group’s shareholdings in Home Credit B.V. and Air Bank a.s. increased by 2% to 88.62%, while at the same time PPF Group’s shareholding in Eldorado, the Russian electronics retailer, decreased by one fifth to 80%. The demerger of O2 Czech Republic into two companies, CETIN (Czech Telecommunications Infrastructure) and O2 as telecommuniations retail operator, came into effect as of June 1, 2015. CETIN operates the largest data and communications network, covering the whole territory of the Czech Republic, while O2 offers its services to end users in the Czech Republic and Slovakia. From PPF Group’s viewpoint, the relationship between PPF and O2 operator is one of financial investment; PPF Group does not play any role in the commercial management of the company. PPF Group completed the sale of its equity interest in insurance JV GPH to the Italian Generali Group. PPF Group received EUR 1.245 billion for its remaining 24% stake in GPH. The completion of this transaction with Generali marks the successful end of a period of almost 20 year during which PPF operated in the insurance industry in the Czech Republic and CEE. PPF Group keeps its presence in the area of insurance. PPF is successfully developing both PPF Life Insurance, its life insurance business in Russia, and its non-life insurance business, which has been integrated successfully into Home Credit Group’s offering. 2014 In line with its agreement with its business partners, PPF Group sold its shares in Energy and industrial holding (EPH) back to EPH. PPF Group’s equity investment into EPH back in 2009, as well as the Group’s important contributions to EPH as a major shareholder, significantly contributed to building up EPH into one of the biggest players in the energy sector in Central Europe (the Czech Republic, Slovakia, Poland, Germany). PPF Group acquired a minority stake in OriBase Pharma, a biotechnology company based in France which specialises in the development of new therapies in oncology. Over the course of 2014, the main biotechnology investment of PPF Group, SOTIO, also continued to research next-generation therapies. SOTIO became the first Czech company to initiate a global “Phase III” clinical trial for its active cellular immunotherapy treatment for prostate cancer. At the end of the year 2013 PPF Group has agreed to acquire a 65.9% shareholding in Telefónica Czech Republic, a.s., including its 100%-owned subsidiary Telefónica Slovakia, from Telefónica, S.A., for a total consideration of CZK 63.6 billion (€2,467 million). Following approval of the acquisition of the largest integrated telecommunications operator in the Czech market and is No 3 operator in Slovakia.by the European Commission the deal was closed at the end of January, 2014. 2013 November: PPF Group acquired a majority stake in Bestsport Arena a.s., which operates the O2 arena in Prague. The O2 arena is one of the most modern multipurpose venues in Europe, with capacity for up to 18,000 seats. It hosts dozens of world-class sporting and cultural events, to which it welcomes hundreds of thousands of people every year. PPF Group develops its insurance business in Russia under two brands, Home Credit Insurance and PPF Life Insurance. Home Credit Insurance, a member of Home Credit Group, focuses on non-life insurance, and PPF Life Insurance continues working on its core market. In March, PPF and Jiří Šmejc have signed an agreement on division of their assets: Jiří Šmejc gains direct stakes in Home Credit Group (13.37%) and in Air Bank (13.37%). The remaining 86.63% in both companies is owned by PPF Group N.V. As Jiri Smejc has left the position of PPF Group shareholder, the shareholding of PPF Group N.V. is divided as follows: Petr Kellner 98.94%, Ladislav Bartoníček 0.53% and J.-P. Duvieusart 0.53%. In January, Energy and Industrial Holding (EPH) has undertaken the largest Czech foreign investment ever by buying 49% stake in Slovakia's SPP, alongside with managing control of the company - for EUR 2.6 billion. SPP is the largest energy asset in Slovakia, being also a strategic distributor of natural gas from Russia to the EU. In January PPF Group has come to the agreement with Generali on selling its 49% stake in insurance JV Generali PPF Holding (GPH). As part of this agreement, PPF has acquired from GPH a 100% stake in dynamically growing insurance assets in Russia and other CIS countries. The agreement also included the exchange of assets through which Generali increased its stake in Ingosstrakh, the Russian insurer, up to 38.5%, while PPF got full control over private equity funds PPF Partners. 2012 At the end of the year, PPF Group has come to agreement with KKCG Group, its partner in a lottery company Sazka, sázková kancelář, to sell its 50% in this joint venture to KKCG. In order to support a dynamic growth of Energy and Industrial Holding (EPH) and to strengthen a financial position of this strategic asset, PPF Group increased its share in EPH to 44.4% PPF Group sold to Russian financial group, Otkritie, its 26.5% stake in Nomos-Bank. The proceeds from the transaction are to be used by PPF for investments into further development of Group´s key activities in Russia, especially in the area of consumer finance, retail sales and real estate, as well as for the support of expansion to the fast growing Asian markets. In real estate area, PPF Group has focused on its own development projects, predominantly in Russia but also in the Czech Republic. A major project which has been launched at the end of the year is a large office park in the outskirts of Moscow. As of 2014, big Russian telco, Rostelecom is to have its headquarters there. In Prague, PPF Group started to build a complex of office buildings named Argentina Star in attractive downtown location of Holešovice. As a part of PPF Group shareholders’ strategic intention to consolidate all Home Credit-branded companies operating in different geographies into a single holding entity, Home Credit B.V. acquired HC Asia N.V in July 2012 and started to consolidate also selected operations in Asia (China, India and Indonesia). Home Credit entered Indian market launching pilot operations in New Delhi NCR region in January 2012 2011 Generali shares owned directly and indirectly by PPF Group N.V. were transferred to an independent investment manager, which handles the shares in line with the agreed investment policy. Following the split of Energetický a průmyslový holding (“EPH”) and the spin-off of its industrial part under the new name “EP Industries” from the former company EPH, PPF Group agreed with the other EPH shareholders to sell its interest in EP Industries. Two large malls operated by PPF Real Estate Russia were opened in the Russian cities of Ryazan and Astrakhan, bringing a new quality of shopping and entertainment to inhabitants of these regions. PPF Group, together with KKCG Group, completed the acquisition of the lottery and betting assets of Sazka, a company in insolvency, from the insolvency administrator in a tender process. PPF Group sold a part of its Real Estate portfolio, comprised of 19 office buildings in the Czech Republic, to CPI Group, in line with its focus on new development projects rather than facility management. PPF Group and Igor Yakovlev, the founder of Eldorado, executed a transaction, which led to PPF Group gaining full control over a major Russian electronics and domestic appliances retail chain. PPF Group entered the agricultural sector in Russia by acquiring a majority stake in RAV Agro-Pro holding, which has significant operations in crop farming and livestock in several districts of the Central-Chernozem region of Russia. Air Bank, 100% subsidiary of PPF Group, a new retail banking operation in the Czech Republic, started preparations to offer high‑yield saving accounts to clients, following the approval of its banking licence from the Czech National Bank. PPF Group sold a 100% stake in its healthcare business to the private equity fund Tuffieh Funds SICAV. Home Credit & Finance Bank successfully placed a USD 500 million loan participation note issue; on high demand from 120 investors in 18 countries, the issue was more than twice oversubscribed. PPF Group concluded a transaction with Platinum Bank concerning the sale of its Home Credit Bank assets in Ukraine. The Tomilino Logistics Park near Moscow, in which PPF Group is a major investor, executed agreements with large tenants, effectively filling up the facility’s storage and distribution capacity. 2010 PPF Group N.V. acquires 31,448,841 shares of Assicurazioni Generali (both directly and indirectly). As a result, PPF obtains a 2.02% interest in the share capital of the leading Italian insurer. PPF Group N.V. obtains the approval of the China Banking Regulatory Commission to form a Consumer Finance Company (CFC) in Tianjin in the north of China. With this regulatory approval, PPF Group is permitted to establish the first CFC in China under full ownership of a foreign investor, in accordance with the new consumer finance legislation enacted in China in August 2009. Jean-Pascal Duvieusart becomes the fourth shareholder of PPF Group N.V. and the new ownership structure of the company is as follows: Petr Kellner: 94.25%, Jiri Smejc: 5.00%, Ladislav Bartonicek: 0.50%, and J.-P.
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