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PPF sells minority stake in Škoda Transportation

16 May 2019

ŠKODA TRANSPORTATION: Petr Kellner’s investment business PPF Group announced on May 7 that it had sold a 10% stake in Škoda Transportation to an entity controlled by Michal Korecký. The price was not disclosed.

Korecký had been one of the nine co-owners of Škoda Transportation until PPF completed the €326m acquisition of 100% of the Plzeň-based company in April 2018.

He was the only former shareholder to remain as a member of the supervisory board, as well as serving on the supervisory boards of a number of other companies within the Škoda Group. He will remain as a non-executive.