Bloomberg Reports that PPF Group Targets M&A as Asset Prices Pressured

PPF Group NV is seeking out acquisitions in Europe as the investment company controlled by the Czech billionaire Kellner family expects asset prices to come under more pressure amid rising interest rates.  

PPF’s most recent large deals involved buying into publicly traded companies as stock market prices have dropped more than privately-held assets, according to Chief Executive Officer Jiri Smejc. Valuations in general “still don’t fully reflect the state of economies” and many businesses are finding it more difficult and costly to refinance debt as borrowing costs climb, he said. 

Full article: www.bloomberg.com/news/articles/2023-06-23/billionaire-kellner-family-office-targets-m-a-as-asset-prices-pressured
Author: Peter Laca