{"id":84392,"date":"2026-05-13T14:19:10","date_gmt":"2026-05-13T14:19:10","guid":{"rendered":"https:\/\/www.europesays.com\/cz\/84392\/"},"modified":"2026-05-13T14:19:10","modified_gmt":"2026-05-13T14:19:10","slug":"sokujici-strnadova-ofenziva-csg-chce-urvat-podil-ve-vyrobci-tanku-leopard-ovladlo-by-zbrojni-evropu","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/cz\/84392\/","title":{"rendered":"\u0160okuj\u00edc\u00ed Strnadova ofenziva. CSG chce urvat pod\u00edl ve v\u00fdrobci tank\u016f Leopard, ovl\u00e1dlo by zbrojn\u00ed Evropu"},"content":{"rendered":"

Zat\u00edmco se akcie \u010desk\u00e9ho zbroja\u0159sk\u00e9ho gigantu\u00a0Czechoslovak Group<\/a>\u00a0pot\u00fdkaj\u00ed s propadem na burze, jej\u00ed majitel Michal Strnad s\u00e1hl k p\u0159ekvapiv\u00e9 ofenziv\u011b. Podle informac\u00ed den\u00edku Financial Times podal zbroja\u0159 CSG nab\u00eddku na koupi v\u00fdznamn\u00e9ho pod\u00edlu ve francouzsko-n\u011bmeck\u00e9m kolosu KNDS, kter\u00fd vyr\u00e1b\u00ed legend\u00e1rn\u00ed tanky Leopard 2 \u010di houfnice Caesar. Ambici\u00f3zn\u00ed pl\u00e1n v\u0161ak \u00fadajn\u011b nar\u00e1\u017e\u00ed na politick\u00fd odpor v Pa\u0159\u00ed\u017ei i Berl\u00edn\u011b.\u00a0<\/p>\n

\u201eSpekulace trhu nekomentujeme,\u201c uvedl pro e15 mluv\u010d\u00ed skupiny Andrej \u010c\u00edrtek. Pokud by se transakce potvrdila, zbroja\u0159sk\u00e1 skupina\u00a0CSG miliard\u00e1\u0159e Michala Strnada<\/a>\u00a0by t\u00edm ud\u011blala sv\u016fj dosud nejodv\u00e1\u017en\u011bj\u0161\u00ed krok na evropsk\u00e9m trhu. Podle listu p\u0159edlo\u017eila nab\u00eddku na odkup pod\u00edlu v holdingov\u00e9 spole\u010dnosti KNDS, kter\u00e1 vznikla f\u00faz\u00ed n\u011bmeck\u00e9ho Krauss-Maffei Wegmann a francouzsk\u00e9ho Nexteru. Podle zdroj\u016f bl\u00edzk\u00fdch jedn\u00e1n\u00ed sm\u011b\u0159ovala nab\u00eddka, sestaven\u00e1 p\u0159ev\u00e1\u017en\u011b z hotovosti, k n\u011bmeck\u00fdm rodin\u00e1m, kter\u00e9 v amsterodamsk\u00e9m holdingu dr\u017e\u00ed polovi\u010dn\u00ed pod\u00edl.\u00a0<\/p>\n

V\u00e1lka o evropsk\u00e9ho \u0161ampiona<\/p>\n

Na\u010dasov\u00e1n\u00ed nemohlo b\u00fdt dramati\u010dt\u011bj\u0161\u00ed. Samotn\u00e9 KNDS toti\u017e p\u0159ipravovalo vstup na burzu, a to podle dostupn\u00fdch informac\u00ed u\u017e na za\u010d\u00e1tek \u010dervence, s uva\u017eovanou tr\u017en\u00ed kapitalizac\u00ed ve v\u00fd\u0161i 15 a\u017e 20 miliard eur. Strnad\u016fv pokus vstoupit do hry je\u0161t\u011b p\u0159ed \u00fapisem tak m\u016f\u017ee celou operaci zkomplikovat.\u00a0<\/p>\n

\u201eZapad\u00e1 to do celkov\u00fdch akvizi\u010dn\u00edch proces\u016f v Evrop\u011b: CSG chce d\u00e1le navy\u0161ovat sv\u00e9 kapacity a KNDS chce investovat a\u017e jednu miliardu eur v N\u011bmecku na pos\u00edlen\u00ed produkce,\u201c uv\u00e1d\u00ed expert Capitalinked Radim Dohnal. KNDS u\u017e d\u0159\u00edve odm\u00edtlo nab\u00eddku od Rheinmetallu a z\u00e1jem o pod\u00edl ve v\u00fdrobci Leopard\u016f vyj\u00e1d\u0159ila i n\u011bmeck\u00e1 vl\u00e1da.\u00a0<\/p>\n

\u201e\u0160lo by ale o velk\u00e9 sousto pro CSG. Hodinu po zve\u0159ejn\u011bn\u00ed zpr\u00e1vy akcie CSG sp\u00ed\u0161e klesaly. To je ale typick\u00e9 p\u0159i zpr\u00e1v\u00e1ch o akvizic\u00edch. Akcion\u00e1\u0159i kupuj\u00edc\u00edho typicky nesd\u00edlej\u00ed nad\u0161en\u00ed a do n\u011bjak\u00e9ho vyjasn\u011bn\u00ed akcie sp\u00ed\u0161e prod\u00e1vaj\u00ed,\u201c dod\u00e1v\u00e1 Dohnal. Strnad by transakc\u00ed z\u00e1rove\u0148 vyp\u00e1lil rybn\u00edk t\u011bm, kdo se t\u011b\u0161ili na dal\u0161\u00ed velk\u00e9 leto\u0161n\u00ed zbroja\u0159sk\u00e9 IPO.\u00a0<\/p>\n

Chystan\u00fd vstup KNDS na burzu, pl\u00e1novan\u00fd na za\u010d\u00e1tek \u010dervence, investo\u0159i vn\u00edmali jako jednu z nejv\u011bt\u0161\u00edch evropsk\u00fdch burzovn\u00edch ud\u00e1lost\u00ed roku. Holding se s\u00eddlem v Amsterodamu je v sou\u010dasnosti rozd\u011blen p\u016fl na p\u016fl mezi dva kl\u00ed\u010dov\u00e9 akcion\u00e1\u0159e: francouzsk\u00fd st\u00e1t a n\u011bmeckou rodinnou holdingovou spole\u010dnost Wegmann & Co. Pr\u00e1v\u011b n\u011bme\u010dt\u00ed majitel\u00e9, reprezentuj\u00edc\u00ed d\u011bdice rodin Bode a von Braunbehrens, zva\u017euj\u00ed prodej \u010d\u00e1sti sv\u00e9ho vlivu.\u00a0<\/p>\n

Situaci p\u0159itom vyost\u0159uje politick\u00e1 nestabilita v N\u011bmecku. Koalice kancl\u00e9\u0159e Friedricha Merze \u0159e\u0161\u00ed, jak velk\u00fd pod\u00edl by m\u011bl st\u00e1t od n\u011bmeck\u00fdch rodin p\u0159\u00edpadn\u011b odkoupit s\u00e1m, aby si udr\u017eel strategickou kontrolu. Vzhledem k tomu, \u017ee druhou polovinu KNDS ovl\u00e1d\u00e1 Pa\u0159\u00ed\u017e, st\u00e1v\u00e1 se z akvizice citliv\u00e9 diplomatick\u00e9 t\u00e9ma. Jak Pa\u0159\u00ed\u017e, tak Berl\u00edn maj\u00ed enormn\u00ed z\u00e1jem na tom, kde se budou tanky vyr\u00e1b\u011bt a kdo bude ur\u010dovat priority v\u00fdvoje.\u00a0<\/p>\n

Posledn\u00ed velk\u00fd n\u00e1kup teprve ned\u00e1vno<\/p>\n

Zat\u00edm nejv\u011bt\u0161\u00ed akvizici uzav\u0159el Strnad pom\u011brn\u011b ned\u00e1vno, kdy\u017e v listopadu 2024 dokon\u010dil ovl\u00e1dnut\u00ed americk\u00e9 skupiny Kinetic Group vyr\u00e1b\u011bj\u00edc\u00ed malor\u00e1\u017eov\u00e9 st\u0159elivo. CSG za ni zaplatila 2,2 miliardy dolar\u016f, tehdy asi 53 miliard korun. K d\u0159\u00edv\u011bj\u0161\u00edmu z\u00edsk\u00e1n\u00ed v\u011bt\u0161iny akci\u00ed v italsk\u00e9 muni\u010dce Fiocchi Munizioni, kterou u\u017e CSG aktu\u00e1ln\u011b ovl\u00e1d\u00e1 celou, tak \u010desk\u00fd zbroja\u0159 naposledy p\u0159ibral p\u011btici p\u0159edn\u00edch americk\u00fdch v\u00fdrobc\u016f a zna\u010dek n\u00e1boj\u016f pro sportovce, lovce i ozbrojen\u00e9 slo\u017eky.\u00a0<\/p>\n

Obchod \u010desk\u00e1 skupina financovala prim\u00e1rn\u011b z vlastn\u00edch zdroj\u016f a z \u00fav\u011br\u016f od konsorcia bank, co\u017e je standardn\u00ed postup pro takto rozs\u00e1hl\u00e9 mezin\u00e1rodn\u00ed transakce. Letos v lednu p\u0159itom ve vyj\u00e1d\u0159en\u00ed pro \u010dasopis Forbes nazna\u010dil dal\u0161\u00ed ob\u0159\u00ed n\u00e1kupy v\u00fdkonn\u00fd \u0159editel CSG, fakticky druh\u00fd mu\u017e managementu skupiny David Chour: \u201eM\u00e1me nyn\u00ed p\u0159\u00edstup ke kapit\u00e1lu, co\u017e je parametr, d\u00edky n\u011bmu\u017e m\u016f\u017ee k dal\u0161\u00ed takov\u00e9 p\u0159elomov\u00e9 v\u011bci doj\u00edt. V\u011b\u0159\u00edm, \u017ee Kinetic nebyl tou nejv\u011bt\u0161\u00ed transakc\u00ed, kterou ud\u011bl\u00e1me.\u201c\u00a0<\/p>\n

St\u00edn Hunterbrooku a p\u00e1d z burzovn\u00edho vrcholu<\/p>\n

Pro CSG p\u0159ich\u00e1z\u00ed tato ofenziva v okam\u017eiku, kdy se sna\u017e\u00ed uklidnit sv\u00e9 vlastn\u00ed akcion\u00e1\u0159e. Od lednov\u00e9ho vstupu na burzu v Amsterodamu, kde byla skupina ocen\u011bna na rekordn\u00edch 30 miliard eur, hodnota jej\u00edch akci\u00ed citeln\u011b klesla.\u00a0<\/p>\n

D\u016fvodem nen\u00ed jen ochlazen\u00ed z\u00e1jmu o zbroja\u0159sk\u00e9 tituly, kter\u00e9 zas\u00e1hlo i l\u00eddry trhu, jako je Rheinmetall, ale i \u00fatok investi\u010dn\u00ed skupiny Hunterbrook. Ta v kv\u011btnu obvinila CSG z opomenut\u00ed kl\u00ed\u010dov\u00fdch informac\u00ed v prospektu IPO a nazna\u010dila netransparentn\u00ed vazby uvnit\u0159 holdingu. Strnadova skupina v\u0161echna obvin\u011bn\u00ed d\u016frazn\u011b odm\u00edtla, trh v\u0161ak na zpr\u00e1vu p\u0159esto zareagoval v\u00fdprodejem.\u00a0<\/p>\n

Ne\u00fanavn\u00fd vyjednava\u010d z Prahy<\/p>\n

Pokud by CSG v ta\u017een\u00ed na KNDS usp\u011bla, definitivn\u011b by se stala dominantn\u00edm hr\u00e1\u010dem evropsk\u00e9ho obrann\u00e9ho pr\u016fmyslu. Skupina ji\u017e nyn\u00ed hraje kl\u00ed\u010dovou roli v dod\u00e1vk\u00e1ch munice pro Ukrajinu v r\u00e1mci \u010desk\u00e9 iniciativy a loni pohltila americkou muni\u010dn\u00ed divizi Kinetic Group zahrnuj\u00edc\u00ed nap\u0159\u00edklad legend\u00e1rn\u00ed zna\u010dku Remington. Tehdej\u0161\u00ed akvizice p\u0159itom vy\u0161la skupinu na v\u00edce ne\u017e 50 miliard korun.\u00a0<\/p>\n

Analytici se v\u0161ak shoduj\u00ed, \u017ee n\u00e1kup pod\u00edlu v KNDS bude tvrd\u00fdm o\u0159\u00ed\u0161kem. \u201eJe to souboj pen\u011bz proti geopolitice,\u201c komentuj\u00ed podle Financial Times zdroje z trhu. Hlavn\u00ed obavou je ztr\u00e1ta kontroly nad v\u00fdrobou kl\u00ed\u010dov\u00e9 techniky, jako jsou tanky Leopard 2, kter\u00e9 tvo\u0159\u00ed p\u00e1te\u0159 v\u011bt\u0161iny evropsk\u00fdch arm\u00e1d v\u010detn\u011b t\u00e9 \u010desk\u00e9.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Zat\u00edmco se akcie \u010desk\u00e9ho zbroja\u0159sk\u00e9ho gigantu\u00a0Czechoslovak Group\u00a0pot\u00fdkaj\u00ed s propadem na burze, jej\u00ed majitel Michal Strnad s\u00e1hl k p\u0159ekvapiv\u00e9…\n","protected":false},"author":2,"featured_media":84393,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[412,4125,623,1834,106,5680,17,21,26475,16062,5241,16,788,18,19,22,20],"class_list":{"0":"post-84392","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-zpravy","8":"tag-akcie","9":"tag-berlin","10":"tag-burza","11":"tag-czechoslovak-group","12":"tag-evropa","13":"tag-financial-times","14":"tag-headlines","15":"tag-hlavni-udalosti","16":"tag-knds","17":"tag-leopard-2","18":"tag-michal-strnad","19":"tag-news","20":"tag-pariz","21":"tag-top-news","22":"tag-top-stories","23":"tag-udalosti-dne","24":"tag-zpravy"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@cz\/116567707800209573","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/84392","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/comments?post=84392"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/84392\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media\/84393"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media?parent=84392"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/categories?post=84392"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/tags?post=84392"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}