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Joint venture 'on the brink' of acquiring J&T
PPF Partners, a new joint venture, is about to complete the acquisition of the Slovakian energy group J&T.
The Financial Times (FT) reported that the deal is worth €100 million (£86.8 million).
PPF Partners includes Italian insurance firm Generali and Czech financial services group PPF, which was set up by businessman Petr Kellner.
The joint venture has raised €615 million and is looking for more business opportunities in central and eastern Europe.
Mel Carvill, Generali''s head of western Europe, Americas and Middle East and head of mergers and acquisitions, who is to be president of PPF Partners, told the FT: "As other investors are pulling out of this region, there are tremendous opportunities there.
"There are clearly risks, it is a challenging time. But we believe that, in the medium to long term, these countries will return to higher growth rates than the rest of Europe."
PPF Partners has already invested half of its first fund and is looking to establish a second for third-party investors. 
