EP Energy still holds a 100% stake in Pražská teplárenská. It is owned by EP Infrastructure, which falls under the EPH holding of entrepreneur Daniel Křetínský. Neither Pražská teplárenská nor EPH commented on the matter on Sunday when asked by Práva. It can be assumed that the value of the transaction will be in the higher billions of crowns.
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Just because four years ago, Pražská teplárenská sold boiler rooms and heating plants on the left bank of the Vltava to Veolia Energy for 1.8 billion crowns. The head of the heating company, Ladislav Moravec, stated at that time that left-bank sources make up about 15 percent of the total volume of heat supplied by Pražská teplárenská.
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According to the source Práva, the price is quite high due to the fact that Křetínský has previously separated land and real estate from the company and sells only “pipes”, licenses and business positions.
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They have a quarter of the market in the metropolis
“It’s a good deal for EPH,” the source said. According to ENA analyst Jiří Gavor, the takeover by Veolia is naturally natural. “He knows the activities in Prague, he builds on the existing business. It is expanding the already existing part of acquisitions and it is an experienced partner who is well versed in the district heating business, “said Práva Gavor.
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Pražská teplárenská is one of the largest heating networks in the Czech Republic in terms of the number of facilities operated. The company states that in Prague it covers almost a quarter of the thermal energy market and supplies heat not only to households but also to office buildings, businesses, schools and medical facilities.
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Last year, the company, which employs over 400 people, had a net profit of 580 million crowns. Its revenues increased by 4.8 percent year on year to 5.3 billion.
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