Czech investor Martin Drda gets EU approval for Tatra Trucks stake

The Czech company STV Invest, owned by entrepreneur Martin Drda, has received the European Commission's approval to become a co-owner of truckmaker Tatra Trucks. As a result, the automaker will belong to three players at once: STV Invest, the Nika Development vehicle linked to the Czechoslovak Group (CSG) of the richest Czech, Michal Strnad, and the Promet Group.

Nika Development currently controls 65% of Tatra's shares, while Promet Tools, part of the Promet Group, owns the remaining 35%. Last year the STV Invest holding agreed to buy half of Promet Tools' stake, which will make it the owner of 17.5% of the automaker's shares.

The deal did not go through without friction: back in June, the CSG group said it wanted the European Commission to scrutinize STV Invest's entry into Tatra's ownership structure closely, citing concerns that it could harm the automaker's competitiveness. Despite these objections, the regulator gave the deal the green light.

The story of Tatra Trucks is a vivid example of how Czech industrial assets have become an arena for rival interests among major local investors. The legendary truck brand, known since Soviet times, is now finally coming under the control of an alliance of three influential Czech business groups.