E L ASISTENTE PARA LA REFLEXIÓN

78 Annual Report 2014

2014

PPF Group entered the telecommunications sector by acquiring a controlling, two‑thirds stake in O2, the biggest integrated network operator in the Czech Republic and the number‑three in Slovakia, from Telefónica.

After five years of helping build EPH (one of the largest private energy holding companies in Central Europe) as a shareholder, PPF Group successfully sold its stake to its partners in the project.

2013

Jiří Šmejc completed his exit from the position of PPF shareholder and acquired a 13.38% stake in Home Credit Group as well as a direct, 13.38% stake in Air Bank a.s. PPF Group agreed to sell its 49% stake in Generali PPF Holding (GPH), a joint venture with Assicurazioni Generali and a leader in the central European region, bringing to a close 20 years as a successful player in the insurance industry in Central Europe. Going forward, PPF intends to apply its insurance expertise namely in Russia, where it has formed a leading life insurer under the PPF Life Insurance brand.

2012

Home Credit continued to expand in emerging Asian markets, starting operations in India, Indonesia, and the Philippines.

PPF Group sold its stake in Nomos‑Bank, aiming to invest the proceeds of the sale in new projects in Russia, mainly in real estate.

PPF Group sold its stake in SAZKA, sázková kancelář, a. s., the Czech national lottery company, to the KKCG group after averting a crisis – in which Sazka found itself on the verge of bankruptcy – and putting the business on the road to recovery.

2011

PPF Group together with the KKCG investment group (with which it created a 50:50 joint venture) acquired the oldest Czech lottery company, Sazka, which faces bankruptcy proceedings following turbulent developments within its shareholding and management structures. PPF Group acquired the remaining 50%‑minus‑one‑share stake in Eldorado from its founder, Igor Yakovlev, thus consolidating its 100% ownership of the major Russian electronics and home appliances retail chain.

A new retail bank, Air Bank, a member of PPF Group, commenced operations in the Czech Republic after obtaining a banking licence from the Czech National Bank.

2010

Jean‑Pascal Duvieusart became a minority shareholder of PPF Group N.V.

PPF Group N.V. received approval from the China Banking Regulatory Commission to form a Consumer Finance Company (CFC) in Tianjin, in the north of China. This cleared the way for PPF Group to establish the first CFC in China to be owned by a foreign investor.

PPF Group completed the process of relaunching its real estate management organisations under the PPF Real Estate brand.

2009

PPF Group and Igor Yakovlev agreed to a debt capitalisation deal, in which PPF Group acquired a majority interest in Eldorado, Russia’s largest home appliance and electronics retail chain.

The J&T and PPF and Daniel Křetínský formed Energy and Industrial Holding (EPH), a joint venture in the field of energy and industry.

PPF Group formally launched its consumer financing business in Vietnam, thereby adding the country to its Europe and Asia emerging markets portfolio.

2008

PPF Group became a significant shareholder in Russia‑based Polymetal, a leader in silver and gold mining.

2007

PPF Group N.V. executed an agreement with Assicurazioni Generali S.p.A., leading to the formation of Generali PPF Holding B.V., which went on to officially launch an insurance business in Central and Eastern Europe and the CIS.

PPF Group N.V. entered Nomos‑Bank, one of the leading banks in the Russian Federation.

Home Credit Group launched consumer finance operations in China.

2006

PPF Group sold eBanka to Raiffeisen Group.

2005

Home Credit laid the foundations for offering consumer finance services in Kazakhstan.

PPF Group opened a representational office in Vietnam, aiming to capitalise on opportunities in the region’s consumer financing market.

2004

Following a successful restructuring, PPF Group sold its majority interest in TV NOVA to CME, the international media company.

PPF Group opened a representation office in Beijing to explore opportunities in the region’s consumer financing market.

2002

PPF Group established businesses that offer insurance and consumer finance services in the Russian market.

Acquisition and successful restructuring of PPF banka a.s., the former municipal První městská banka (partly owned by the City of Prague).

80 Annual Report 2014

1999

Acquisition of Expandia Banka a.s. (later eBanka), a pioneer of e‑banking in the Czech Republic.

Regional expansion of Home Credit.

1997

Foundation of Home Credit as a platform for providing consumer finance services.

1996

PPF Group launched a restructuring process at Česká pojišťovna.

1995

Foundation of special purpose vehicles, PPF majetková a.s. and PPF Capital Management a.s., expanded the Group’s reach into Real Estate management and strategic investments.

PPF Group commenced the process to acquire Česká pojišťovna, the largest company in the Czech Republic’s insurance market.

1994

PPF Group launched its security trading and asset management activities.

1993

PPF’s investment funds acquired equity shares with a nominal value of CZK 4.9 billion. PPF ranked sixth among Czech investment companies in terms of the number of investment points collected in mass voucher privatisation.

1992

Foundation of the investment company PPF investiční společnost a.s.

1991

Foundation of PPF as a privatisation fund and launch of privatisation‑related collective investment activities in what was then Czechoslovakia. Assets under management estimated at USD 225 million.

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