Waberer's Acquires 51% of Petrolsped
Waberer's International has signed an agreement to acquire a 51% stake in railway logistics company Petrolsped, the listed hauler said on Friday, according to a report by state news wire MTI.
Waberer's had signed a preliminary agreement on the acquisition in July.
The transaction is expected to be closed early in 2024, pending regulatory approval.
Waberer's chairman-CEO Zsolt Barna said the deal was a "significant step towards building a multimodal service portfolio" and would bring Waberer's in line with the European Union strategy to boost the share of long-distance freight transport by rail.
He added that Waberer's saw "significant growth potential" in the market segment because of new industrial and automotive investments in Hungary and because existing customers were increasingly turning to low-carbon logistics services.
Petrolsped had consolidated revenue of EUR 53 mln last year. It is in the final phase of building an intermodal terminal in the south of Hungary that could provide an "optimal basis" for supporting intermodal transport between the Balkans and Western Europe, Waberer's said.
Petrolsped owners Zsolt Kelényi and Béla Nagy said the acquisition would allow Petrolsped to "enter a new growth phase".
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