Waberer’s Acquiring 51% Stake in Petrolsped

Waberer's International has signed a preliminary agreement to acquire a 51% stake in railway transport company Petrolsped, the listed hauler said in a release on the website of the Budapest Stock Exchange yesterday.

The parties have agreed on the purchase price and the main contractual terms, but the transaction details will become finalized and binding after further negotiations, Waberer's said.

The acquisition will allow Waberer's to provide its customers with an even more comprehensive portfolio of services and "significantly increase" the volume of intermodal services, it added.

The transaction is expected to be closed in Q4 2023, pending regulatory approval. Petrolsped had revenue of more than HUF 21 billion last year.

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