US EditionCzech Populist Billionaire Andrej Babiš to Move Business to a Trust to Become Prime Minister
Andrej Babiš transfers his Agrofert conglomerate of about 200 companies to an independent trust to resolve conflict of interest and secure his prime minister appointment.
- PRAGUE, Dec 4 — President Petr Pavel said he will appoint Andrej Babiš as prime minister on December 9 after Babiš said he would shift Agrofert into an independently governed trust.
- Following ANO's election win, President Petr Pavel asked Andrej Babiš last month to form a government and sought clarity on avoiding conflicts of interest before swearing-in.
- Under the proposal, an independent trustee will administer Agrofert and an independent protector will oversee it, while Andrej Babiš said, `I decided to irreversibly give up the Agrofert company, with which I will have nothing in common and never own it again`.
- The parties agreed to a 16-member Cabinet with ANO holding eight posts plus the prime minister, while Motorists for Themselves and the Freedom party secured four and three posts respectively.
- Agrofert's size and EU funding links underscore its influence, with around 230 companies and close to 30,000 employees, highlighting its scale in policy shifts.
46 Articles
46 Articles
Czech billionaire Babis shifts business to trust in bid to return as prime minister
Andrej Babiš said he will place his Agrofert empire into an independent trust to avoid conflict-of-interest concerns, clearing the way for his return as Czech prime minister. President Petr Pavel plans to appoint him Tuesday.
Babis hands over his billion-dollar group to a trust. Critics doubt whether he will really cut all ties, but President Pavel is now ready to swear the right-wing populist.
Zeit Online
saarbruecker-zeitung.deHere you will find information on the topic "New Right Coalition". Read now "Way free for Babis as head of government in the Czech Republic".
Dnevni list Danas
vijesti.meThe future Czech Prime Minister, the leader of the populist ANO, billionaire Andrej Babiš, announced today that in order to avoid a conflict of interest, he will renounce forever his business empire in the agricultural, food and chemical industry - the AGROFERT concern, which operates in 20 countries around the world.
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