The Kellner family now wholly owns the Czech Republic’s PPF Group.
This follows the acquisition of shares previously held by Ladislav Bartonicek (0.535%) and Jean-Pascal Duvieusart (0.535%) by Renata Kellnerova and her family, Anna Kellnerova, Lara Kellnerova, Maria Kellnerova, and Petr Kellner Jr., through their 100% owned company.
Commenting on the development, Bartonicek and Duvieusart said: “Our minority stakes had their logic in the structure of PPF Group as founded and managed by Petr Kellner. Today, when the shareholding structure is divided among Petr’s heirs, the logic of PPF’s management also changed, which is why we both decided, in agreement with Renata Kellnerova, to sell our shares and simplify the shareholding structure.
In addition to pursuing their own business activities, both remain active within PPF Group: Ladislav Bartonicek as chairman of the board of directors of SOTIO Biotech B.V., and J.-P. Duvieusart as chairman of the board of directors of PPF Financial Holdings.
Renata Kellnerova added: “On behalf of our entire family, I would like to thank Lada Bartonicek, who together with Petr was at the very beginning of PPF and played a key role in the successful transformation of Ceska pojist’ovna (Czech Insurance Company). It was undoubtedly one of the breakthrough transactions for PPF, which propelled it into the ranks of investment groups with a global footprint. My thanks also go to J.-P. Duvieusart, who brought global reach to PPF and was instrumental in its expansion into Asian markets. Both gentlemen have contributed significantly to the stability of PPF after my husband’s passing two years ago”.
Bartonícek joined PPF in 1991 and has been a shareholder since the 1990s, managing a number of projects within the group. Meanwhile, Duvieusart has been a shareholder of PPF Group N.V. since 2010 and was mainly responsible for investments in Russia and in real estate.
