Indotek Group Selling Stake in Waberer's
Hungary's Indotek Group will sell its shares in listed Hungarian hauler Waberer's International, Waberer's said in an announcement posted on the website of the Budapest Stock Exchange this week.
Indotek Group has agreed to sell 15% of its 28.9% stake in Waberer's to the asset management unit of oil and gas company MOL, while the rest of the shares will be sold through an investment service provider, Indotek Group unit Trevelin told Waberer's.
"The funds released by the sale of the stake will enable Indotek Group to finance further domestic and international transactions," Trevelin said.
The transaction still requires regulatory approval.
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