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Article: State to sell 21 % stake in Muzo payment card company to US majority owner.
- Article from:
- Czech Business News
- Article date:
- April 29, 2004
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State to sell 21 % stake in Muzo payment card company to US majority owner
Prague. April 29. INTERFAX EUROPE - The state-controlled bailout agency CKA will sell its 21 % stake in the Czech payment card company Muzo to the US-based company Global Payments, CKA's spokesman Jiri Pekarek told Interfax.
Last week, Global Payments' subsidiary PGT Capital announced it would offer minority shareholders in Muzo CZK 16,509 per share for their stakes. PGT Capital acquired a 53 % stake in Muzo from the Czech bank Komercni banka (KB) at the end of 2003.
The CKA got the stake in Muzo in a package of assets from the failed IPB bank in 2003. "The state will ...