US EditionCzech Populist Billionaire Andrej Babiš to Move Business to a Trust to Become Prime Minister
Babiš transfers Agrofert, a conglomerate with about 200 companies and 30,000 employees, into an independent trust to meet conflict of interest rules and secure PM 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.
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61 Articles
The billionaire populist Andrej Babish said he will give up his main business, moving them to an independent trust, to become prime minister again. Babish said this measure will help him avoid the conflict of interest that might arise between his private business and his political status, reports ABC News.
The Czech election winner renounces his Agrofert Group. This will enable Andrej Babiš to become Prime Minister next week.
Czech Republic: During his first term as prime minister, Babis transferred his company, Agrofert, to trust funds controlled by his relatives and lawyers. Judges…
The party of Andrej Babis had come at the top of the general elections but with an insufficient majority to govern alone, leading him to sign a coalition agreement with the extreme right-wing SPD and right-wing La Voix des motoristes, on 3 November. His appointment...
The Czech President announced on Thursday night his intention to appoint Prime Minister andrej Babis as the Trompist billionaire after the latter's promise to transfer the activities of his conglomerate into an independent structure to avoid conflicts of interest. ...
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