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Prague bought 19.3% of the company last year from EP Industries by the EPH Daniel Křetínský Group. At the company that collects and handles urban waste, it owns 96.24%. In September, the city received permission from the Czech National Bank to buy the remaining shares from minority owners.
For the share of small shareholders, the city plans to pay up to 159.4 million crowns according to previous information. According to the document submitted to the General Assembly, the city will pay 2928 crowns for a nominal face value of a nominal value of CZK 1,000. 1172 crowns will then issue a nominal share at the face value of 400 CZK. The stock price was determined by the expert's opinion.
Once the city is the sole owner of Prague's services, urban waste or cleaning contracts can be assigned directly to PSAS without bidding. To do this, PSAS must still divide the proportion of orders so that at least 80 percent of them make orders from the city.
Prague services, based on a ten-year contract from the City Hall of 2015, provide for the collection and treatment of waste for about two-thirds of the metropolis. The rest is provided by Křetínský AVE CZ and its subcontractors. PSAS net profit last year was 123.3 million crowns.
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