As J&T Finance Group continues the process of separating its hotel and tourist businesses, Petr Kellner’s PPF and Italian-Czech firm Generalli PPF are taking the opportunity to invest substantially. The two firms have spent more than CZK 1 billion acquiring stakes in J&T’s Best Hotels Properties (BHP) and Tatra Mountain Resorts (TMS). The firms now control a combined 14% of TMS and a smaller share of BHP.
Though PPF maintains its interest in J&T goes no further than the investment opportunities offered thus far, the two established a joint holding last year called Energetický a Průmyslový Holding. While the purpose of the holding is not clear, it appears PPF and J&T are becoming more integrated in their investments.