Euro: Real estate magnate Červenka is selling his company MCA

PRAGUE - Prague real estate magnate Miloš Červenka, who is currently in custody due to charges in a case of alleged corruption at the Ministry of Transport, is selling his firm MCA to Appian Group, which controls the Mostecká Coal Company. This was reported by the online server Euro Online, which confirmed the sale through two independent sources close to the transaction. The firm MCA claims to be the largest property manager in the metropolitan area of Prague, where it manages 400 hectares of land, according to the server.
    At this stage of the transaction, according to the portal, it appears to involve only the purchase of MCA shares, but it cannot be ruled out that in the second phase, Prague plots of land directly registered in Červenka's name will also be included. According to available information, however, most of these properties are encumbered by a lien in favor of Červenka's creditors, the server writes.
    Červenka confirmed to the weekly Euro earlier that his firm indeed owns the mentioned plots of land. "We have about 150 (hectares) from the Land Fund. We have purchased other dozens of hectares from private owners. The ratio of state to non-state lands is gradually evening out," the entrepreneur told the weekly in December.
    The firm MCA specializes in land and construction development, land management, and providing services to property owners. Červenka founded it in 1996. Previously, according to the server, he was the director of the firm RK, which managed the family assets of President Václav Havel and his wife Olga.