The ČEZ energy group has established a new subsidiary, ČEZ Energy, to separate non-production activities. Tatra Trucks has approved a controversial billion-crown loan from a company associated with the majority shareholder, Michal Strnad. Škoda Auto has opened orders for its most expensive electric car, the Peaq, priced at 1.15 million crowns, and the Prague stock exchange and the Czech crown remained stable against the backdrop of easing tensions in the Middle East.

The ČEZ energy group has established its subsidiary, named ČEZ Energy. The company plans to transfer the sale and distribution of energy, trading, and energy services to it in the coming months. This was announced by the CEO of ČEZ, Daniel Beneš, to the iROZHLAS website. According to analysts, separating the non-production part of the company into a new company is a crucial step towards the planned nationalization of the company.

The Tatra Trucks company from Kopřivnice, in the Nový Jičín region, has become the center of a shareholder dispute. Today, the annual general meeting approved a multi-billion crown loan from the company Ytara SPV, which is controlled by the majority owner of Tatra and the richest Czech, Michal Strnad. The minority shareholder, Promet Group, which holds a 35 percent stake, disagrees with the loan and fears that this step could lead to the takeover of the entire car manufacturer. According to its spokesperson, Pavel Barvík, Promet offered its own alternative financing with better conditions, but the annual general meeting did not take this into account. The spokesperson of the majority shareholder, the Czechoslovak Group holding, Andrej Čírtek, stated that the approved financing will allow Tatra to continue with strategic investments and modernization of production.

The price of the new Škoda Auto model, the Peaq, will start at 1.15 million crowns on the Czech market. This is 135,000 crowns more than the previously most expensive Enyaq and 155,000 crowns more than the sister model with a combustion engine, the Kodiaq. Interested parties can start ordering the seven-seater electric car, which is 4.9 meters long, from today, and the first customers will receive it at the beginning of next year. This information comes from a press release from Škoda Auto.

The Prague stock exchange remains calm against the backdrop of a gradually improving sentiment surrounding the conflict in the Middle East. The PX index has been above the 2560-point mark in recent days, with Erste Bank, ČEZ, and arms companies CSG and Colt being among the most traded stocks. The Czech crown has maintained its stability near the level of 24.20 crowns per euro and has not reacted significantly to news about a potential peace agreement between the United States and Iran, nor to domestic macroeconomic data.

gnews.cz - GH

image.png
Tradingeconomics.com