Kretinsky ‘money cow’ downgraded

By Sean Whetstone

West Ham shareholder Daniel Kretinsky has seen his gasoline pipeline firm downgraded as a threat by ranking company Fitch

The Czech billionaire owns 49% of EUStream which has been a money cow for his European energy infrastructure enterprise for numerous years.

Prior to now this operation has generated hundred of hundreds of thousands in money which has allowed Kretinsky to put money into different companies together with Royal Mail, Sainsburys, Macys and West Ham United.

Fitch says their downgrade displays our view of a considerably increased threat to eustream’ long-term contracts with Russian vitality supplier Gazprom.

The warning follows the progressive escalation of sanctions between the EU and Russia, which might forestall the receipt of scheduled funds from Gazprom in case of additional measures, and from EU’s agency dedication to strongly cut back its reliance on Russian gasoline.

There’s a vital materials threat of non-payment from Gazprom, probably stemming from an entire halt of gasoline flows from Russia to the EU.

Final month Kretinsky sanctioned the sale of certainly one of Sparta Prague’s finest gamers when Adam Hlozek was bought Bayer Leverkusen for €13m plus €5m in add-ons.

The Czech billionaire who has half owned the club since 2004 and is president added a promote on clause of  30%.

The sale stunned many believing that Hlozek can be bought to the Hammers who had been linked with ethe starlet for a very long time.

The sale additionally raised questions on the continuing funding and dedication  to the Czech soccer club and his ambitions to take it to the subsequent stage.

Author: Londonlad

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