Emma Group buying into Czech PPF’s Russian retailer-Reuters

Emma Capital has reached an agreement with PPF to take a stake in the Czech investment group’s Russian electronics retailer Eldorado, PPF said on Friday.

The size of the stake will be announced in the coming months, the statement said.

Emma Capital is part of the Emma Group owned by Czech investor Jiri Smejc, a longtime business partner of PPF owner Petr Kellner, the Czech Republic’s richest man.

Emma was part of a group that purchased a 33 percent stake in Greek betting monopoly OPAP last year, the first major privatisation under Greece’s international bailout plan.

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