Babiš’s Agrofert loses CZK 20 billion court battle linked to privatisation deal

The Agrofert group, which is owned by the minister of finance, Andrej Babiš, has lost a CZK 20 billion court battle with the Polish company PKN Orlen, the weekly Euro has reported. Agrofert was demanding compensation for alleged breach of contract. The two companies had worked together ahead of the privatisation of Czech state company Unipetrol before, Agrofert says, PKN Orlen went back on a pledge to sell it controlling stakes in daughter companies of Unipetrol at an advantageous price. Agrofert says it may appeal the ruling.

Author: Ian Willoughby