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KKCG Investments acquires over 5 % in Unipetrol

KKCG Investments of KKCG group of entrepreneur Karel Komarek has acquired over 5% in Unipetrol and has become one of the company's most important minority owners, KKCG spokesman Dan Plovajko informed.

The shares were bought from several entities. The transaction will be settled within the next few weeks, said Plovajko. He added KKCG will not disclose any details about the multi-billion deal. „KKCG Investments is looking for new investment opportunities for KKCG group and we consider the purchase of the Unipetrol stake a very good investment,” said Plovajko.

With a share price around 240 Czech koruna (€8.47), Unipetrol now offers a good investment opportunity, an analyst said. It is one of the best opportunities on the Prague bourse and the stock has set new records recently. But, an other analyst said that Unipetrol does not rank among the most traded shares because investors do not find it open enough and the group’s structure lacks transparency. KKCG Investments invests in the areas of tourism, private air transport, media, the Internet, and real estate and manages assets worth over 50 billion Czech koruna (€1.76 billion) and employs some 6,500 people. It invests also in the sectors of oil and gas extraction, industry, and finance.

KKCG owns stakes in more than 20 Czech and foreign companies, among them Moravske naftove doly, SPP Bohemia, Cestovni kancelar Fischer, and ZDB. It operates in the Czech Republic, USA, Canada, Pakistan, Britain, the Netherlands, Germany, Romania, Russia, Ukraine, north Africa, and Yemen. Unipetrol last year generated a profit of 1.62 billion Czech koruna (€57 million) and sales of 94.59 billion Czech koruna (€3.3 billion). The Unipetrol group, owned by Polish chemical concern PKN Orlen, employs some 6,000 people.

Unipetrol will in the future focus on refineries, the petrochemical industry, and operation of filling stations and the company has begun to sell operations in other segments. Unipetrol units include Kaucuk, Benzina, Ceska rafinerska, Chemopetrol, Paramo, Unipetrol Rafinerie, and Unipetrol Trade. Unipetrol sold its unit Spolana last year to Anwil of the PKN group. (