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Daniel Kretinsky

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business1 year ago

Czech Billionaire Buys UK's Royal Mail for £3.57bn

The owner of Britain's Royal Mail has accepted a £3.6 billion ($4.6 billion) takeover offer from Czech billionaire Daniel Křetínský's EP Group. The deal, which values International Distribution Services (IDS) at £5.2 billion ($6.6 billion) including debt, includes commitments to protect public service aspects of the postal service. No major job losses are planned, and Royal Mail will maintain its name, branding, and six-day-a-week delivery obligation. The Communication Workers Union has expressed cautious optimism but calls for improved employee relations and service restoration.

via The Associated Press|
#business#daniel-kretinsky#ep-group
business2 years ago

Mustier Takes Charge as Atos Chairman Amid Shareholder Uproar

Jean-Pierre Mustier, former CEO of UniCredit, is taking over as chairman of crisis-hit French IT consulting group Atos, as the company seeks to secure a contested deal with Czech tycoon Daniel Kretinsky. Mustier's appointment comes after Atos dropped plans to split the company and instead opted to sell its largest division, Tech Foundations, to Kretinsky. The deal has faced criticism from minority shareholders and French politicians. Atos shares initially jumped by over 20% but later reversed course. If the deal with Kretinsky fails, Atos may need to consider selling additional assets or accessing debt and equity markets to safeguard liquidity.

via Reuters|
#atos#business#daniel-kretinsky
business2 years ago

Billionaire Kretinsky in $2.2B deal to acquire Atos unit

Czech billionaire Daniel Kretinsky is in talks to acquire Atos's loss-making Tech Foundations business in a €2 billion ($2.20 billion) deal, allowing Atos to focus on its cybersecurity and cloud assets and reduce its debt. The sale would end Atos's initial plan to split the company into two listed entities. As part of the deal, Atos plans to raise €900 million through a share sale, with €180 million reserved for Kretinsky's EP Equity Investment, giving it a 7.5% stake in the new entity called Eviden. The sale would bring in €100 million in cash and reduce €1.9 billion in liabilities from Atos's balance sheet.

via Reuters|
#atos#business#daniel-kretinsky