WABERER’S to buy 51% share of Petrolsped Forwarding KFT
| WABERER’S INTERNATIONAL announced last week that it has signed a preliminary agreement on the acquisition of the business share representing 51% of the share capital of Petrolsped Kft. Within the framework of the preliminary agreement, the Parties agreed on the purchase price and the main contractual terms, however, the detailed framework of the transaction becomes final and binding after the contractual negotiations, with the signing of the final sale and purchase or ownership contract. |
| The Hungarian-owned Petrolsped group is one of Hungary’s leading railway logistics service companies, which provides railway transport services, partly with its own railway vehicles, mainly focusing on the territory of Hungary and Romania. Petrolsped’s consolidated sales in 2022 exceeded HUF 21 billion. In accordance with its announced strategy, Waberer’s focuses on diversifying its service portfolio and, upon successful completion of this acquisition, will significantly improve its railway logistics capabilities. If the acquisition is successfully closed, Waberer’s will provide its customers with an even wider portfolio of services, it will be able to enter the special transport segment that currently mainly uses railway services (e.g. agricultural and construction products), and it will also increase its readiness to implement the plans defined by the EU, according to which long-distance transport tasks should be carried out by rail as much as possible, and together we will be able to significantly expand the combined rail and road transport of trailers intermodal service volume. The transaction can be closed after the successful completion of the usual due diligence and contractual tasks, as well as approval by the competition authorities, expected in the last quarter of 2023. |
Original article HERE
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