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PPF announces the closing of major CETIN Group transaction
PPF Group announces the closing of GIC’s acquisition of a 30% stake in CETIN Group. The transaction, signed in October 2021, has been closed following customary regulatory approvals.
PPF will retain four seats, including chair Jan Kadaník, in the seven-person board of directors of CETIN Group. Under the acquisition agreement, the CETIN Group’s board will also have an independent director.
The parties have agreed not to disclose the transactions’ financial details.
