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Kretinsky Eyes Bigger TotalEnergies Stake
29 May
Summary
- Daniel Kretinsky's EPH acquired a 4.2% stake in TotalEnergies.
- The deal involved EPH contributing gas and battery projects.
- Kretinsky sees scalability and diversification in TotalEnergies.
Czech billionaire Daniel Kretinsky has expressed openness to expanding his company's investment in TotalEnergies SE. Last month, Kretinsky's Energeticky a Prumyslovy Holding AS (EPH) secured a stake of approximately 4.2% in the French energy giant.
This significant holding was obtained through an exchange valued at nearly €7.5 billion ($8.8 billion). EPH contributed a 50% share in gas and biomass power stations, alongside battery projects located across Italy, the UK, Ireland, the Netherlands, and France.
Kretinsky, who owns the majority of EPH, highlighted the potential for scalability and diversification in his TotalEnergies investment. He noted that with a current stake below 5%, there is ample room to increase it further, especially given TotalEnergies' substantial market capitalization.
Under the terms of the agreement, EPH is restricted from selling its TotalEnergies shares for a period of 12 months. Kretinsky remains comfortable with the French company's risk profile and views the growing stake as a strategically diversified move.
