PBI CZ 10, a real estate rental company owned by investors Zdeněk Šoustal and Josef Malíř, may buy the Czech branch of the German property developer Trei Real Estate. The transaction has been approved by the Office for the Protection of Competition (ÚOHS), which announced this in a press release.
“The merger of the competitors takes place mainly in the areas of real estate development and rental of real estate and non-residential premises, especially in the rental of retail space. The merger will not result in a significant distortion of competition,” the authority said.
Since last December, nine companies have been registered in the Commercial Register under the name PBI CZ, whose managing directors are Šoustal and Malíř. The companies differ in their numerical designation. They are PBI CZ 1 to PBI CZ 6, followed by PBI CZ 10, 11 and 12. Seven of the companies are limited liability companies in which the investment holding of both executives is a shareholder, Plan B Investments. Two are in the form of a public limited company where Plan B Investments is the sole shareholder.
Both entrepreneurs have other investment companies. Painter runs a company called Star Capital Finance. Šoustal, who is the 17th richest Czech according to this year’s Forbes magazine ranking, owns half of the Accolade holding and, among other things, the investment firm Reticulum.
Trei Real Estate Czech Republic, the Czech branch of the German real estate developer Trei Real Estate from the Tengelmann real estate group, has been operating on the Czech market since 2008. According to its 2021 annual report published in the Collection of Deeds, its portfolio in the Czech Republic includes 60 retail stores that are leased to retail chains on a long-term basis. Since 2017, as a result of the merger, it also manages shopping centres under the Vendo Park brand. The company ended 2021 with a profit of CZK 178 million.
Source: CTK
