The sale of AVE's operations in Eastern Europe to the Czech company EP Industries, a.s. that was announced this past summer has now been completed. EPI is assuming control of all of the subsidiary's activities in the Czech Republic, Slovakia, Hungary, Romania and Ukraine, AVE's parent company Energie AG Oberösterreich reported on Wednesday. In Moldova, AVE's activities have been transferred to its former partner, the city of Ungheni.
The sales contract was signed on 19 July, but the sales process was not completed until yesterday.
AVE's activities in its home market Austria and in South Tyrol, Italy, are being retained by Energie AG. The parent concern said it was reorganising and developing a new strategy for these remaining segments of AVE.