Waberer’s to convert into a private firm

Deals

Hungarian road haulage company Waberer’s International’s majority owner initiated a vote by shareholders to convert the firm from a public into a private company, excluding the listing of its shares on the Budapest Stock Exchange (BSE), Hungarian news agency reported today.

A disclosure on the request was posted on the BSE’s website yesterday after the markets were closed, just a few hours after private equity fund Mid Europa Partners announced it would buy out founder György Wáberer, who is retiring. The fund is raising its stake in the company from 56.8% to 97.1%, through the buyout.

Wabererʼs had first-quarter revenue of €136.7 million, up 3.6% from the same period a year earlier.

At the beginning of March, Waberer’s announced that it had launched operations at its new German subsidiary.

Shareholders of the company decided in January to postpone a decision on an initial public offering (IPO) of its shares during a general meeting.

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