Tykač for the second time and significantly more in the USA. He acquired the Blackhawk mines in Kentucky.

Within one month of the second incision in the US. The sixth richest Czech and member of the club of dollar billionaires Pavel Tykač made another acquisition in his favor. The Sev.en Energy group, controlled by it, today announced that it has bought one of the largest producers of coking coal in the USA - Blackhawk Mining.

It includes five underground and surface mines (quarries) in the states of West Virginia and Kentucky, which are a key supplier of metallurgical coal to America and international markets.

Blackhawk Mining corporation had sales in year 2019 more than $ 1 billion and EBITDA of $ 120 million. Tykač's group did not announce the purchase price, but it can be around half a billion dollars, into Czech crown it is 12 billion. We are finding out more details. .

“The acquisition of thi company represents a very significant entry of the Sev.en Energy group into the mining of metallurgical coal. Blackhawk is a great company with highly productive and fully equipped mines and large coal reserves” said Alan Svoboda, CEO of Sev.en Energy, who leads the group’s international expansion. .

"We look forward to working with Blackhawk, his management and employees. We want to actively participate in the long-term success of the company and create a platform for further growth in the region. "

Last year the Sev.en Energy Group’s revenues amounted to 1.4 billion euros and ebitda to 319 million euros - including the preliminary results of InterGen and Alpiq Generation (cz), recently renamed Teplárna Kladno. .

Sev.en Energy's first move into the U.S. metallurgical coal industry was to acquire a 17 percent stake in Corsa Coal Corp. in May this year. .

Blackhawk Mining CEO Jesse Parrish confirms his words. “With the support of Sev.en Energy we have a great chance to move in the right direction in the current market situation and also the opportunity to use synergies for further growth in this sector. We look forward to integrating into the Sev.en Energy Group’s portfolio, working with its team of top experts, as well as new goals and challenges and achieving new level of success.” .

Pavel Tykač thus ranks alongside Petr Kellner, Karel Komárek, Daniel Křetínský and Patrik Tkáč in expansion to the USA. The richest Czechs and Slovaks take advantage of lower prices and buy assets that would have been unavailable to them a few years ago. .

“At th moment the Czech Republic is so economically successful that it is o longer primarily looking for America investments in the Czech Republic, but is devoting more and more time to what to invest in here in the USA” said Czech Ambassador to the USA Hynek Kmoníček.

Source : https://www.forbes.cz/tykac-podruhe-a-podstatne-vic-v-usa-ziskal-doly-blackhawk-v-kentucky/