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PPF Group agreed to sell its shareholding in LEAG
PPF Group today announced the signing of an agreement to sell its remaining 30% stake in LEAG Holding (LEAG) to a subsidiary of EP Group. PPF exercised its option to sell its remaining LEAG shares to EP Group, which manages the investments of EP Group shareholders.
LEAG owns German energy company Lausitz Energie Verwaltungs GmbH, operating coal mining and power generation assets. PPF has been the financial partner in LEAG, which EP Group manages.
The exit from LEAG is a successful culmination of an almost nine-year journey for PPF and its joint-venture partners, EP Group. PPF appreciates the EP Group’s contribution to the value creation of LEAG. At the same time, the divestment aligns with PPF’s investment strategy to focus on financial services, telecommunications, media, e-commerce, and real estate.
The parties agreed not to comment on any further details of the transaction.
