Alteo acquiring 75% stake in FE Group
Listed alternative energy company Alteo yesterday said it agreed to acquire a 75.1% stake FE-Group, active in the industrial, municipal and household waste management markets, according to an announcement on the website of the Budapest Stock Exchange.
FE-Group had a turnover of more than HUF 3 billion last year. The acquisition is aligned with Alteo's strategy to boost its role in the circular and sustainable economy.
Alteo will take over the stake in one month after contract conditions have been met.
The Blue Planet Foundation will hold 24.9% of the company.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.