J&T to buy Czech Atlantik brokerage, asset management firms from KKCG.

By bne IntelliNews June 2, 2010
Czech-Slovak investment bank J&T Finance agreed to take over Prague-based securities broker Atlantik Financial Markets and Atlantik Asset Management, both controlled by KKCG group of financier Karel Komarek, J&T spokesperson Petr Malek announced. The two companies together form the forth-largest securities group in the Czech Republic. Malek did not disclose the price of the deal. The transaction completion is subject to approval on part of the central bank and the antitrust office UOHS. J&T Banka CEO Stepan Aser expects the transaction to be completed by end-June. The step is aimed to make J&T Banka one of the top three securities dealers in the next 5 years and the largest manager of new issues of local companies, Aser said. In 2009, the transactions of Atlantik Financial Markets amounted to CZK 62bn (EUR 2.3bn), while Atlantik Asset Management managed assets worth CZK 2.7bn.

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