PPF (company)
| N.V. | |
| Founded | 1991 |
| Founder | Petr Kellner |
| Headquarters | Amsterdam, Netherlands |
|
Key people
|
Petr Kellner (Chairman) Jean-Pascal Duvieusart (CEO) |
| Revenue | €6.292 billion (2015) |
| €352 million (2015) | |
| Total assets | €21.611 billion (2015) |
| Total equity | €5.680 billion (2015) |
| Owner | Petr Kellner (98.92%) |
|
Number of employees
|
85,000 (2015) |
| Subsidiaries |
Home Credit (88.62%) Sotio O2 Czech Republic (86.06%) Česká telekomunikační infrastruktura (94.9%) Polymetal International (17.85%) |
| Website | http://www.ppf.eu |
|
Footnotes / references |
|
PPF is a privately held international financial group. It operates in the area of consumer financing, retail banking and insurance. It develops its activities in many countries. Its headquarters are located in the Netherlands. The largest shareholder of PPF is Petr Kellner (98.94%).
The history of PPF dates back to the early 1990s. After the Velvet Revolution in Czechoslovakia the government led by Marián Čalfa decided to gradually privatize state-owned companies. The legal framework was set by Act No. 92/1991 enacted on 26 February 1991. One of the agreed privatization methods was voucher privatization. Czechoslovak citizens who decided to take part in the voucher privatization had two options, either bid for shares in the privatized companies by themselves or exchange in advance their vouchers for shares in privatization funds, whose managers would make the investment decisions by themselves.
In September 1991 Teplice-based company Správa prvního privatizačního fondu (literally Management of the First Privatization Fund) was founded, its registered capital was only CSK 0.1 million (USD 3.3 thousand).Petr Kellner became its chairman, other board members were managing director Milan Vinkler and Petr Joudal. All of them were already entrepreneurs. In February 1991 Kellner founded company ANO with Joudal and company WIKA with Vinkler.
To succeed in the privatization, PPF needed money for an advertising campaign. It obtained the capital from state-owned glassworks Sklo Union, which was also based in Teplice. Štěpán Popovič, board member of Sklo Union, formally introduced Kellner to the board, which in turn approved a CSK 20 million investment in the form of capital increase and debt financing. In November 1991 registered capital of PPF was increased to CSK 6.6 million (USD 226 thousand) and Joudal was replaced by Jaroslav Přerost, who was at the time CFO of Sklo Union.
In December 1991 PPF set up five investment funds:
Registered capital of each fund was CSK 0.1 million. PPF did not establish any fund focused on Slovakia.
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Wikipedia