The EP Group led by Czech billionaire Daniel Kretinsky will become the sole owner of the Lusatian energy group Leag. The subsidiary EP Energy Transition is acquiring the previous 30 percent stake held by Czech financial investor PPF, the company announced on Monday. No official approvals, such as antitrust clearance, are required for the transaction. The price was not disclosed. Leag, based in Cottbus, is one of the largest German electricity producers.
Transformation to be driven forward
The company wants to continue the process of the energy transition, move away from traditional fossil fuels and towards more environmentally friendly solutions, it added. "The fact that we are the sole shareholder of Leag will help us to implement the transformation of Leag to the expected extent and in the expected time," said Jan Springl, member of the Board of Directors of the EP Group. The transformation is to take place in a socially responsible manner and in consultation with the federal and local authorities. The planned investments include battery storage and highly efficient gas-fired power plants suitable for hydrogen.
PPF with a new strategy under new ownership
The PPF financial group was founded in 1991. After the death of founder Petr Kellner in 2021, his widow Renata Kellnerova and his daughters inherited the company. Recently, according to media reports, PPF has increasingly turned to investments considered safe, such as real estate.
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