Penta Group Acquired Florenc Bus Station in Prague
Penta will acquire the entire company ČSAD Praha Holding, which owns the terminal and the adjacent lucrative land. The transaction price has not been disclosed by the companies.
Approximately 450 buses pass through this station every day, making it the largest bus station in the Czech Republic.
Pavel Vráblík, the CEO of ČSAD Praha Holding, estimated in June that in 2019, ten million people passed through the station, but after the pandemic, the number has dropped by about one million.
Vráblík stated in June that the Florenc 21 project would include the bus station as part of a new building, which would house office spaces and apartments. He estimated the investment in the project at several billion Czech crowns.
Penta Real Estate recently completed work on the Masaryčka building complex by Prague’s Masaryk railway station. It was designed by the UK’s Zaha Hadid Studios and is regarded as one of the boldest projects of its kind in the Czech capital in some years.
The construction of the two buildings that make up Masaryčka began in March 2021 and the total investment was CZK 2.5 billion.
Penta Investments is a Central European investment group founded in 1994. It is active in healthcare, financial services, manufacturing, retail, real estate development, and media. Its portfolio companies employ more than forty thousand people.
The company operates in more than ten European countries and has representations in Prague, Bratislava, and Warsaw.
Penta owns, among other things, media companies Vltava Labe Media and News and Media Holding, betting company Fortuna Entertainment Group, Dr. Max, Empik, Slovalco, and the Penta Hospitals chain.
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