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		</div><p>The board of the company agreed to a formal takeover offer for the 500-year-old organisation which includes assumed debts for the company<br />
Czech billionaire Daniel Kretinsky has firmed up an offer of £5bn, including assumed debts, for the company which employs more than 150,000 people.</p>
<p>Known as the “Czech Sphinx”, Mr Kretinsky is said to have made his money in Central and Eastern European energy via a labyrinthine structure of companies. This includes Eustream which transports Russian gas via pipelines that run through Ukraine, the Czech Republic and Slovakia.</p>
<p>According to the Sunday Times Rich List, the 48-year old Czech businessman and lawyer is worth £6bn and owns fancy houses in upmarket areas.</p>
<p>Mr Kretinsky already has a 27% stake in IDS and also has a variety of investments in the UK. He has built up quite a portfolio in well-known brands through Vesa Equity Investment, a private firm which is registered in Luxembourg.</p>
<p>His other sizeable investments includes stakes in London football club West Ham United, supermarket giant Sainsbury&#8217;s and the sportswear retailer Footlocker &#8211; as well as International Distribution Services, the parent company of Royal Mail.</p>
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