Waberer's Acquiring 55% Stake in MD International
Listed Hungarian hauler Waberer's International on Friday announced its wholly-owned unit WSZL signed an agreement to acquire a 55% stake in MD International, a "major player" in the Serbian distribution market, according to an announcement on the website of the Budapest Stock Exchange.
The closing of the transaction is subject to clearance by competition authorities and the fulfillment of conditions in the sale and purchase agreement. WSZL also received an option to acquire the remaining 45% stake in the company.
Last year, MD International had revenue of EUR 50.3 million and an after-tax profit of EUR 1.7 mln.
Waberer's International chairman-CEO Zsolt Barna said the acquisition was the "first significant step" on making Waberer's "the leading complex logistics provider in the region. Waberer's has a strong track record in complex logistics services in Hungary, which it intends to expand regionally through acquisitions in the future," he added.
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