PPF Says Talks with Petrus Advisers on Moneta Led to No Conclusion
October 22, 2021 at 01:22 pm EDT
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PPF Group N.V. said on October 22, 2021 it had held discussions in good faith with Petrus Advisers LLP on Czech lender MONETA Money Bank, a.s. (SEP:MONET) but that talks had not led to any conclusion. PPF and Petrus Advisers are MONETA?s two biggest shareholders, and PPF was reacting to a Petrus Advisers statement this week in which the group had called on MONETA to move on from a potential acquisition of PPF?s Air Bank a.s. In the Petrus Advisers statement, it had said it had been in negotiations with PPF about a potential solution, which included ?agreeing in principle? a higher offer price than a previous deal for Air Bank that had been rejected by shareholders.
Moneta Money Bank a.s. is one of the leading financial services groups in the Czech Republic. Net sales break down by activity as follows:
- retail banking (64.2%): sales of conventional banking products and services to induviduals (current account management, consumer credit, sale of savings contracts, mortgages, car loans, home loans, leasing, credit card issuance, etc.);
- commercial banking (29.6%): sales of banking products and services to small and medium enterprises, financial and public institutions (asset funding, investments and projects, leasing, management of vehicle fleets, industrial equipment funding, etc.);
- other (6.2%): primarily investment banking and bancassurance.
At the end of 2021, the group managed CZK 285.1 billion in courrent deposits and CZK 255.6 billion in current loans.
The products and services are marketed through a network of 154 branches located in the Czech Republic.
MONETA MONEY BANK, 
