Tuesday, 21 November 2017

Babiš puts his Agrofert in trust fund over conflict of interest

ČTK |
6 February 2017

Prague, Feb 3 (CTK) - Czech Finance Minister Andrej Babis has put his shares of the Agrofert and SynBiol companies in trust funds to meet the new conflict of interest law, he said on Czech Television (CT) Friday.
The trust funds' administrators are Zbynek Prusa, chairman of the Agrofert board of directors, and Alexej Bilek, a lawyer.
Their operation will be supervised by a three-member board including Babis's partner Monika Babisova.
The conflict of interest law, which comes into force on March 9, bars access to public contracts and state subsidies for firms controlled by ministers.
Babis, a chemical, food and media magnate and head of the ANO movement, is opposed to the law. He says it goes counter to European law by restricting his right to possess property.
Babis previously said one of Agrofert Holding's companies will challenge the conflict of interest law at the European Commission (EC).
rtj/dr

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