 |
Related news articles
- Industrial production increases slightly, research shows
- Slovakian government approves tax breaks for investments
- Benteler to create new jobs in Slovakia
- ICU Medical to invest in Slovakia
- Slovakia ranked 46th for trading conditions
- Slovakia's "stable environment" important for VW
- Japanese importers visit Slovakia
- New director appointed at SPP
|
RECENT BLOG POSTS
- Countries that directly influence economics in Slovakia
- Mongolian shepherds learn to make cheese in Slovakia
- Two sides of the same Euro coin in Slovakia
- Does Euro really cause price-rise in Slovakia?
- Slovakia in the footprints of the UK: Criminal sentence for bringing up your child?
- How to survive in London and enjoy it
- Increasing food prices-whose fault is it?
- News: Slovakia + the Euro: A good match?
User login
J&T to acquire International Power
J&T, a Czech-Slovakian investment business, is to acquire the Czech division of electricity firm International Power for £738 million.
The latter company is expected to make a £380 million profit from the transaction and its share value increased by 4.62 per cent following the announcement of the deal, making it one of the biggest movers of the day on the FTSE 100 index.
Philip Cox, chief executive officer at J&T, said that the sale went ahead after significant interest was shown from a number of parties.
"The attractive sale price, combined with the limited scope to materially expand our business in the Czech Republic, means that this transaction represents excellent value."
The agreement, which is subject to clearance from financial regulators, is expected to include all debts and Czech subsidiary International Power Opatovice (IPO) plus IPO''s shares in Energotrans and Prazska Teplarenska.
Completion of the transaction is expected by the end of 2009.
J&T''s Slovakian business recorded a slight year-on-year profit increase during 2008. 
