Bloomberg News

Vitek Says Ablon, Orco Property Group, CPI May Cooperate

December 06, 2012

Czech billionaire Radovan Vitek said Czech Property Investments AS and eastern Europe’s real-estate developers Orco Property Group (ORC) SA and Ablon Group (ABL) Ltd, in which Vitek holds stakes, may cooperate in the future.

“For the future, there’s a possibility that CPI, Ablon, and Orco will cooperate on acquisitions, development and property management,” Vitek said yesterday in a statement.

CPI announced yesterday that it will purchase a 30 percent stake in Ablon and may possibly acquire the remaining stake in the Hungarian developer later on.

CPI already controls 30 percent stake in Orco.

To contact the reporter on this story: Andrea Dudik in Prague at adudikova@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net


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