June 25, 2018 / 10:00 AM / in 10 months

Czech anti-monopoly watchdog clears CITIC takeover of CEFC's Czech assets

PRAGUE, June 25 (Reuters) - The Czech anti-monopoly office UOHS has cleared Chinese state-owned CITIC Group Corporation’s takeover of most of the Czech-based assets held by China’s struggling conglomerate CEFC, the watchdog said on Monday.

The Czech assets involved are the CEFC Europe firm, holding interests in hotels, real estate, engineering and a sports club, and Lapasan, through which CEFC holds a majority stake in beer brewer Lobkowicz.

The UOHS did not mention Czech airline Travel Service in which a separate China-based CEFC entity holds a 49.9 percent interest. (Reporting by Jan Lopatka)

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