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November 21st, 2008
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May 23rd, 2007 | Current Issue

Shock value
Czech tabloids beat the dailies with mass appeal

RWE plans new pipeline
'Gazela' to import Russian gas from line beneath Baltic Sea

Kupka painting nets record price
Bid of 13.4 million Kč sign of growing investment in artwork

ČEZ sale blocked from public scrutiny
Government's selection of broker is confirmed only after leak to press

Biz Events
Dates of Note

10 Questions
with Stephan Dertnig
10 Questions

Movers & Shakers
New exec for ČEZ
Movers & Shakers

BRIEFS


ENI The Italian oil company Eni has more than doubled its share of the Czech oil refiner Česká rafinérská after it bought out ConocoPhillips’ portion of the company, worth 14.1 billion Kč ($679 million), the daily Il Sole 24 Ore has reported. Eni now owns 35 percent of the company, and wants to become sole owner by year’s end, the newspaper said.

BOOSTED Budějovický Budvar has seen sales of its beer in the United States increase 43 percent last year, thanks to a new distribution agreement it signed with rival Anheuser-Busch in January. The company, which sells under the name “Czechvar” in the United States, now plans to sell 12,000 hectoliters of beer there, up from a projected 8,000 hectoliters.
PROTEST Labor unions are planning a protest June 23 against the government’s planned social and tax reforms, said Milan Štěch, chairman of the Czech-Moravian Confederation of Trade Unions (ČMKOS), May 19. The unions, upset they have not had a place at the negotiating table, expect more than 40,000 protestors.
SPIRITS German food conglomerate Eckes AG has sold the largest Czech spirits distiller, Stock Plzeň, to the U.S. investment company Oaktree Capital Management for an undisclosed sum, the Czech News Agency reported May 17. Stock Plzeň controls about 30 percent of the Czech spirits market, and its brands include Fernet.
PPF Petr Kellner’s PPF Group has agreed to jointly set up a banking group with Russia’s Nomos-Bank, the companies announced May 17. Nomos is the 20th-largest bank in Russia by assets, and will postpone a planned IPO to pursue the partnership.
BOSNIA ČEZ announced May 16 that it will invest a record 1.4 billion euros ($1.9 billion/39.5 billion Kč) in a joint venture with Bosnia and Herzegovina to renovate an existing coal-fired plant, build a new coal plant and expand an local lignite mine. The deal replaces Zentiva’s March purchase of the Turkish firm EGP as the largest external investment in Czech history.
SURGERY The first chain of private medical clinics is being formed in the Czech Republic, Hospodářské noviny reported May 15. The chain, composed of former independent private practices, is being formed by Marek Potysz, former director of the firm Agel, which built the country’s largest network of private hospitals from 2001 to 2006.
EMISSIONS EU member states have agreed to a watered-down plan to cap carbon emissions of new cars at 130 grams per kilometer starting in 2012. The revised plan allows this limit to vary, conditional on the member state, car company and car type. The Czech Republic and Germany had been opposed to a previous plan that proposed a single unified cap.

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