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Daniel Křetínský

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Daniel Křetínský
Born (1975-07-09) 9 July 1975 (age 49)
Brno, Czechoslovakia
(now Czech Republic)
Alma materMasaryk University
Known forChairman and 94% owner, EPH
Co-owner and president, Sparta Prague
Director, West Ham United

Daniel Křetínský (Czech pronunciation: [ˈdanɪjɛl ˈkr̝ɛciːnskiː], born 9 July 1975)[1] is a Czech billionaire businessman and lawyer, who is the chief executive officer (CEO) and 94% owner of Energetický a průmyslový holding (EPH), co-owner and president of football club Sparta Prague, and director and major shareholder of English football club West Ham United.

Early life

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His biological father is Mojmír Křetínský, informatics professor at Masaryk University,[2][3] and his mother, Michaela Židlická, is a former justice of the Constitutional Court of the Czech Republic.[4] His stepfather, who raised him, is photographer Vladimír Židlický.[4]

Career

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Early career

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In 1999, Křetínský joined J&T as lawyer and became a partner in 2003.[3] Since 2004, he has been the chairman of football club Sparta Prague and he is believed to be its 40% shareholder.[5]

When J&T founded Energetický a průmyslový holding in 2009, he became its chairman and 20% shareholder.[6] He ceased to be a partner of J&T. In 2011, he became chairman and 60% shareholder of EP Industries, that was divested from EPH.[7] In 2016, he took 94% ownership of EPH through a series of transactions including EPH's sale of a 30% stake in subsidiary EPIF where the proceeds were used to buy out other shareholders.[8] As of 2022, EPIF owned 49% of Eustream [sk], a Slovak gas transmission system operator which piped Russian gas to central and eastern Europe.[9]

Since 2014, he has been one of the owners of Czech media house Czech News Center which published the tabloid Blesk.[10]

2018–2020: French company purchase

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In October 2018, staff at Le Monde learned that Křetínský had purchased 49% of Matthieu Pigasse's stake in the company. Le Monde's Independency Group, a minority shareholder that aims to protect the paper's editorial independence, had not been informed of the sale, and asked Pigasse and Křetínský to sign an "approval agreement" that would give the Independency Group the right to approve or reject any controlling shareholder. As of September 2019, they had not done so.[11][12]

On 12 March 2020, Jérôme Lefilliâtre, a French journalist, published Mister K, Petites et grandes affaires de Daniel Kretinsky (Le Seuil Editions), an investigative book about the Czech billionaire.[13][14][15]

On 16 September 2020, his holding company, Vesa Equity Investment Sarl, announced a 3.05% holding interest in the shares of J Sainsbury plc, a major supermarket chain in the United Kingdom.[16] By November, Křetínský's holding company Vesa Equity Investment Sarl also became the largest shareholder of Foot Locker.[17]

2021–2022

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On 10 November 2021, English football club West Ham United announced Křetínský and his colleague Pavel Horský had acquired 27% of the shares of the club, both becoming directors.[18]

On 25 August 2022, Royal Mail in the United Kingdom was notified by the British government that Křetínský's Vesa Equity Investment Sarl, the then single largest investor of Royal Mail, had plans to increase its shareholding to more than 25%. This triggered intervention and a British government review by Kwasi Kwarteng the United Kingdom's Secretary of State for Business under the National Security and Investment Act. On 31 October 2022, the Secretary of State for Business approved Křetínský's intention to increase Vesa's shareholding in Royal Mail (owned by parent company International Distributions Services).[19]

2024

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In April 2024, the owner of Royal Mail, International Distribution Services (IDS), received a takeover approach from Křetínský.[20] The 320p a share offer was rejected by IDS.[21] However, on 29 May, the owners of Royal Mail accepted an offer of 360 pence a share, and the sale awaits government approval. [22] Křetínský has committed in writing to honouring the Universal Service Obligation for five years.[23]

A consortium led by Křetínský will own and control 53.7% of the share capital of French retailer Groupe Casino.[24] In June, ThyssenKrupp announced that the start of reconstruction of the struggling Thyssenkrupp Steel Europe will take place over the summer and that Daniel Kretinsky wants to take a 20% stake without layoffs.[25]

In November 2024 it was announced that the sale of Royal Mail to Daniel Kretinsky's EP Group is close to being finalised.[26]

Strategy

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In a speech in 2015, Křetínský said: "We want to make money in industries that are dying because we think they'll die much more slowly than the general consensus says."[27]

Personal life

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Křetínský is dating Anna Kellnerová, the daughter of his business associate Petr Kellner, who was the richest man in the country.[28]

In 2015, he acquired the Heath Hall mansion in London for £65 million,[29][30] featuring 15 bedrooms, 13 bathrooms, a cinema, and a tennis court.

References

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  1. ^ Shah, Oliver (29 April 2024). "The Czech Sphinx speaks: Daniel Kretinsky on the future of Royal Mail and Sainsbury's". The Times. ISSN 0140-0460.
  2. ^ "Personal Page prof. RNDr. Mojmír Křetínský, CSc". Masaryk University. Retrieved 8 July 2024.
  3. ^ a b Motejlek, Miroslav (4 July 2009). "Zázračný mladý muž čekající na skutečně velký obchod". MotejlekSkocdopole.com (in Czech). Retrieved 12 April 2020.
  4. ^ a b "Na fotbalovou trofej umělecky dohlédl Křetínského druhý otec". Aktuálně.cz (in Czech). Economia. 1 March 2020. Retrieved 29 April 2024.
  5. ^ "Šéf klubu Křetínský kupuje 40 procent akcií fotbalové Sparty". Mladá fronta Dnes (in Czech). 7 March 2022.
  6. ^ "Energetický a průmyslový holding se chystá za dva roky na burzu". Hospodářské noviny (in Czech). Economia. 28 April 2011.
  7. ^ "The EP Industries group finalises its shareholding structure". Energetický a Průmyslový Holding. 14 February 2012.
  8. ^ "EPH expects a change in its shareholder structure". Energetický a Průmyslový Holding. Retrieved 10 April 2020.
  9. ^ Isaac, Anna (27 December 2023). "Chuka Umunna advises Czech tycoon accused of Royal Mail plot". The Guardian. Retrieved 1 January 2023.
  10. ^ "Křetínský a Tkáč definitivně převzali Ringier, změní název". Aktualne.cz (in Czech). Economia. Czech News Agency. 30 April 2014.
  11. ^ Willsher, Kim (10 September 2019). "Le Monde journalists warn of threat to editorial independence". The Guardian. Retrieved 13 September 2019.
  12. ^ "We, "Le Monde" journalists..." Le Monde. 10 September 2019. Retrieved 13 September 2019.
  13. ^ ""Mister K": la stratégie ambiguë de Daniel Kretinsky". Le Monde (in French). 11 March 2020. Retrieved 12 April 2020.
  14. ^ "Enquête sur un milliardaire au-dessus de tout soupçon". Les Echos (in French). 13 March 2020. Retrieved 12 April 2024.
  15. ^ "Q&A: Jérôme Lefilliâtre on the Czech oligarch cornering the French media market". Columbia Journalism Review. Retrieved 13 May 2020.
  16. ^ "Czech billionaire Kretinsky ups bet on retail with Sainsbury's stake". Reuters. 16 September 2020. Retrieved 18 September 2020.
  17. ^ "Czech Billionaire Raises Foot Locker Stake to Become Top Holder". Bloomberg. 26 November 2020. Retrieved 18 September 2021.
  18. ^ "West Ham United statement". West Ham United F.C. 10 November 2021. Retrieved 10 November 2021.
  19. ^ "UK will not take action over Czech mogul's plan to raise Royal Mail stake". Devdiscourse. 16 September 2020. Retrieved 31 October 2022.
  20. ^ "Czech billionaire Daniel Křetínský says Royal Mail owner rejected takeover approach". Financial Times. Retrieved 17 April 2024.
  21. ^ Davies, Rob (28 April 2024). "Union appears to accept Royal Mail proposal to cut most Saturday deliveries". The Guardian. ISSN 0261-3077. Retrieved 29 April 2024.
  22. ^ Simpson, Jack (29 May 2024). "Royal Mail owner agrees to £3.57bn takeover by Czech billionaire". The Guardian.
  23. ^ Jack, Simon; Espiner, Tom (16 July 2024). "Royal Mail will deliver letters forever, vows buyer". BBC News. BBC.
  24. ^ "Paris court approves Casino bailout by Czech billionaire Křetínský". Reuters. 26 February 2024.
  25. ^ Steitz, Christoph; Käckenhoff, Thomas (24 June 2024). "Thyssenkrupp steel revamp to happen without forced layoffs". Reuters.
  26. ^ "Royal Mail: Czech billionaire Daniel Kretinsky closes in on takeover deal". Bbc.com. Retrieved 2024-12-01.
  27. ^ Gill, Oliver (19 May 2024). "Meet Daniel Kretinsky, the "Czech sphinx" looking to buy Royal Mail". The Times.
  28. ^ "Ten Czechs and Slovaks listed in Forbes ranking of world's billionaires". Kafkadesk. 13 March 2019. Retrieved 10 April 2020.
  29. ^ "West Ham billionaire Daniel Kretinsky's stunning £65m London supermansion he once rented to Justin Bieber". Hammers News. 16 November 2021. Retrieved 27 March 2023.
  30. ^ "Pourquoi Daniel Kretinsky a recours à des paradis fiscaux". Le Monde (in French). 8 November 2018. Retrieved 27 March 2023.
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