Businessman Mário Hoffman buys 24 percent of J&T financial group

The J&T Finance Group plans an expansion, and the first step is to increase its capital – adding some €200 million in cash to its existing €750 million value thanks to the owner of Istrokapitál, Mário Hoffman, joining the group.

The J&T Finance Group plans an expansion, and the first step is to increase its capital – adding some €200 million in cash to its existing €750 million value thanks to the owner of Istrokapitál, Mário Hoffman, joining the group.

With this transaction, Hoffman will acquire a 24-percent stake in the group; the Sme daily quotes the September 25 issue of the Czech newspaper Hospodářské Noviny. The current shareholders Jozef Tkáč and Ivan Jakabovič will keep a 38-percent stake each. The recent step will effectively connect J&T with Hoffman’s Istrokapitál, Hospodářské Noviny wrote.

“Mário Hoffman will get the stake of less than one quarter through increasing the capital of the group,” member of the J&T Bank board Igor Kováč confirmed for the Czech paper. The financial group will change its structure beginning next year, Sme wrote, operating under the brand J&T Finance Group SE which will be divided into four main parts. Its management will reside in Prague.

“We are changing the structure in order to simplify the group for the outside world, because of stakeholders and also to make the payment of dividends simpler,” Kováč explained.

(Source: Sme)
Compiled by Zuzana Vilikovská from press reports
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