Brno is considering the sale of the Technology Park less than a year after acquisition

Brno – Brno is considering the sale of part or all of its shares in the Technology Park. It became almost the sole owner only at the beginning of this year, when it purchased 50 percent of the shares from the Dubai company P&O for 559 million crowns. Before that, it owned almost half, and one share is held by the Brno University of Technology. The reason for the potential sale is the decline in the city budget due to the coronavirus pandemic. The city had an expert assessment prepared, said Mayor Markéta Vaňková (ODS) to reporters today.

Initially, the South Moravian Region was negotiating to acquire half of the shares, but its council did not approve the purchase. The company then approached Brno. "We wanted companies engaged in innovation or research to be directed there, but now we feel that this company is superfluous for the city. We repeatedly discuss the option of sale during coalition negotiations," said the mayor.

It is not yet clear what portion of the shares the city will sell or for how much it will offer them. "We are having a valuation report prepared, which will estimate the value of the shares, and based on that, we will decide. We are considering selling almost all, but there are multiple options. It is possible to sell only a part or to allocate some property and keep it in the ownership of the city," Vaňková added.

Brno’s councilors also approved an increase in the limit for overdraft financing from two banking institutions due to budget shortfalls. Instead of one billion crowns, the city can borrow up to two billion next year.

The Technology Park has been in existence for over 20 years and rents out 60,000 m² of office space. It also has another 60,000 m² available for office construction, and an additional 60,000 m² is designated for housing according to the urban plan. Research and innovative companies are located there.