Prague, Czech Republic – March 6, 2026 – Czech businessman Pavel Tykač now holds a 3% stake in CEZ, the country’s largest energy company, making him the second-largest shareholder after the state. The investment, held through his company Belviport Trading, is currently valued at approximately 19.4 billion Czech koruna (roughly $19.4 billion USD), according to reports from Ekonomicky denik and Seznam Zprávy.
Tykač officially notified the Czech National Bank (ČNB) of the increased holding. This move comes as the Czech government has announced plans to buy out all minority shareholders in CEZ, aiming for full state control of the energy provider. Currently, the state holds around 70% of CEZ shares through the Ministry of Finance.
The timing of Tykač’s increased stake has sparked speculation about a potential advantageous sale, given the government’s intentions. The planned buyout could result in a higher price per share than the current market value of around 1200 Czech koruna. This reflects a broader trend of strategic investment in energy assets as nations reassess control over critical infrastructure.
Tykač began acquiring shares in CEZ more than four years ago, initially surpassing a 1% ownership in February 2022. He had previously announced intentions to increase his stake to 2.67%, but later retracted that plan citing market conditions and the onset of the war in Ukraine. The Prague Stock Exchange reports that the method by which Tykač reached the 3% threshold remains unclear.
Reports suggest Belviport Trading may have acquired shares from investors Petr Nešetřil and Tomáš Kaňka, both of whom have a history of collaboration with Tykač. Other significant minority shareholders in CEZ include large international funds, as well as investor Michal Šnobr, who works with the J&T Group. Hospodářské noviny notes that Tykač does not believe in the nationalization of CEZ, stating that the government could have completed the process within a few months if it desired.
Tykač’s increased investment underscores the growing interest in CEZ, a key player in the Czech Republic’s energy sector, and highlights the strategic importance of energy assets in the current geopolitical landscape.
