The insolvency administrator of Bílinská kyselka and other medicinal waters producer BHMW has asked the court for approval to sell the company for 440.5 million crowns to European Healing Waters, backed by Kofola and Invest Gate. From today, retirees can terminate older pension savings contracts immediately and without penalties. The Ministry of Finance sold government bonds worth 7.7 billion crowns, with investor interest exceeding twice the offered amount. The M2C Group reported stable turnover for the first half of the year, with profitability squeezed by delayed acquisitions and challenging economic conditions. Czech inflation is among the lowest in the EU.
The insolvency administrator of Bohemia Healing Marienbad Waters has asked the court for approval to sell the company for 440.5 million crowns. The acquirer is to be European Healing Waters, backed by Kofola and investment company Invest Gate. The sale of the producer of traditional mineral waters Bílinská kyselka, Zaječická hořká, Rudolfův pramen and Excelsior has already been approved by the creditors' committee, with the final decision now resting with the insolvency court. Completion of the transfer is expected by the end of the third quarter of this year.
From 1 August, people who have retired can terminate pension savings contracts concluded before 2024 immediately and without penalties. Previously, they had to wait for the notice period to expire or pay fees for early termination of the contract.
The Ministry of Finance sold government bonds worth 7.7 billion crowns. Investors sought to purchase Czech bonds worth more than twice the offered volume, demonstrating the market's continued confidence in Czech fiscal policy. According to analysts, the state's issuance activity should ease in the second half of the year.
The M2C Group reported stable turnover for the first half of the year, though profitability declined. The group's management stated that the results were affected by delayed timelines for planned acquisitions and overall more challenging economic conditions in the domestic market. The M2C Group operates in the field of facility management and is among the leading Czech service holding groups.
Czech inflation is among the lowest in the European Union. The year-on-year harmonised inflation rate in June fell to 1.1 percent, significantly below the EU average of 2.9 percent. Among EU countries, only Sweden recorded lower inflation at one percent. The favourable development is driven primarily by cheaper energy and food.
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