Penta to Acquire ČSAD Praha Holding, Including Florenc Bus Station

Penta, a prominent investment group, is set to acquire ČSAD Praha Holding, the owner of the iconic Florenc Bus Station and its adjacent properties, through its subsidiary Penta Real Estate. The acquisition has been announced, and it is currently under review by the Office for the Protection of Economic Competition (ÚOHS). The decision on this merger is expected within 20 days under a simplified procedure.

Penta Real Estate’s purchase targets the parent company of ČSAD Praha Holding, Rextim Holding. The proposed merger encompasses various areas, including non-residential space rentals, development activities, provision of parking spaces, services for public bus transportation operators, retail sale of fuel at gas stations, hotel operations, and currency exchange services in Prague.

The Florenc Bus Station holds a strategic location on valuable land, with its upper section situated within the Nové Město cadastral area and the lower section within Karlín. Penta has previously expressed interest in acquiring properties adjacent to the station, but in 2016, ČSAD announced its intention to develop a project on the land.

ČSAD Praha Holding, established in 2004, is the successor of the dissolved companies ČSAD ÚAN Praha Florenc and ČSAD Praha Pankrác. Rextim Holding, the parent company, was founded in 2006. In 2022, ČSAD Praha Holding reported a total turnover of 423 million Czech koruna with a post-tax profit of 358 million Czech koruna. Notably, Roman Šplíchal and Ivana Šplíchalová jointly own thirty-three percent of Rextim Holding.

This acquisition represents a significant expansion of Penta’s real estate portfolio and reinforces its presence in the transportation sector. The merger between Penta Real Estate and ČSAD Praha Holding is expected to bring new opportunities and synergies to the bus station and transportation services in Prague. With the decision from the antimonopoly authority anticipated in the coming weeks, the future of Florenc Bus Station and its surrounding properties is poised for transformation under Penta’s ownership.

Article by Prague Forum

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