Listed haulier Waberer’s International Nyrt. on Wednesday concluded an agreement to buy out the stake of Lóránd Szemerey, its minority partner in Waberer’s-Szemerey Logisztika Kft. According to a press release sent to the Budapest Business Journal, Szemerey accepted the offer made by Waberer’s and CEO Ferenc Lajkó, as the buyer, signed the contract.
Waberer’s-Szemerey Logisztika accounts for most of Waberer’s regional logistics contracts, which generated EBITDA of more than EUR 17 million last year, about 21% of the group total.
Szemerey held a 40% stake in the company which has been bought by Waberer’s, which thus becomes the sole owner. The sale is expected to be closed on April 2. Waberer’s did not disclose the price of the transaction.
On the same day, an attempted sale of a 15% stake in Waberer’s failed after the majority owner, BV CEE Transport, withdrew an offer to sell a stake in the company, unhappy with the amount offered.
BV CEE Transport previously said it would sell a 15% stake in Wabererʼs to institutional investors in a private placement. The owner put the value of the stake at around EUR 40 mln.
“Despite the widespread interest in Wabererʼs, demand did not meet price expectations and therefore the offer has been withdrawn,” BV CEE Transport said in a statement which was published by Wabererʼs on the website of the Budapest Stock Exchange.
Even so, BV CEE Transport added that it “remains pleased with the operational performance of the company and will continue supporting Waberer’s growth strategy,” noting strong year-end earnings and the announcement of the buy-out of its minority partner in Wabererʼs-Szemerey Logisztika.
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