Waberer’s acquired majority ownership in Petrolsped Kft

By: Trademagazin Date: 2023. 11. 10. 10:44

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Waberer’s International has signed a sales contract for the purchase of a 51 percent stake in the railway logistics company Petrolsped Kft., the shipping company announced on Friday on the website of the Budapest Stock Exchange (BÉT). No information was provided on the financial details of the transaction.

After the preliminary agreement concluded in July, Waberer’s carried out a detailed financial, legal and technical due diligence and agreed with the owners of Petrolsped on the details of the purchase of the stake and the syndicate agreement governing the future joint management of the company.

The transaction is expected at the beginning of 2024 after the fulfillment of the conditions specified in the sales contract and the completion of the usual official procedures, they said.

According to Waberer’s previous announcement, the acquisition will significantly improve its rail logistics capabilities, in line with its announced strategy to diversify its service portfolio.