Business Update8 Jul 2024, 11:04 pm
VA Tech Wabag Ltd. Approves Sale of Wabag Water Services S.R.L., Romania for EUR 1.2 million
AI Summary
VA Tech Wabag Ltd.'s Board of Directors has approved the sale of 100% stake in Wabag Water Services S.R.L., Romania, a step down subsidiary company, to Circular Waters Solutions S.R.L., Romania for EUR 1.2 million. The sale is part of the company's strategy to optimize its structure and reduce exposure to European geographies. Wabag Romania contributed 1.68% of the turnover and 4.40% of the net worth of the Company for the last financial year.
Key Highlights
- Approval of sale of Wabag Water Services S.R.L., Romania for EUR 1.2 million
- Contribution of Wabag Romania to the company's turnover (1.68%) and net worth (4.40%)
- Part of the company's strategy to optimize structure and reduce European exposure