Penta Acquires Owner of Florenc Bus Station

Investment group Penta is set to acquire ČSAD Praha Holding, the owner of Florenc Bus Station and its adjacent properties, through its subsidiary Penta Real Estate. The Office for the Protection of Economic Competition (ÚOHS), which announced the transaction on its website, is reviewing the merger. Under a simplified procedure, the decision is expected within 20 days.

Penta Real Estate is purchasing the parent company of ČSAD Praha Holding, Rextim Holding. According to the announcement, the proposed merger focuses on various areas such as non-residential space rentals, development activities, provision of parking spaces, services for public bus transportation operators, retail sale of fuel at gas stations, hotel operations, and currency exchange services in Prague.

Florenc Bus Station sits on lucrative land, with its upper section falling within the Nové Město cadastral area and its lower section within Karlín. In the past, Penta expressed interest in acquiring the ČSAD Praha Holding properties adjacent to the station, but ČSAD announced in 2016 that it would develop its project on the land.

Established in 2004, ČSAD Praha Holding is the successor of the dissolved companies ČSAD ÚAN Praha Florenc and ČSAD Praha Pankrác. Rextim Holding was founded in 2006. In 2022, ČSAD Praha Holding reported a total turnover of 423 million Czech koruna with a post-tax profit of 358 million Czech koruna. Roman Šplíchal and Ivana Šplíchalová jointly own thirty-three percent of Rextim Holding.

This acquisition marks a significant move by Penta in expanding its real estate portfolio and further solidifying its presence in the transportation sector. The merger between Penta Real Estate and ČSAD Praha Holding is expected to bring new opportunities and synergies to the bus station and transportation services in Prague. With the decision from the antimonopoly authority anticipated in the coming weeks, the future of Florenc Bus Station and its surrounding properties is poised for transformation under Penta’s ownership.