A final agreement has been reached for the sale of AVE waste management group's Eastern European activities. According to AVE's parent company, Energie AG Oberösterreich, the buyer is to be the Czech company EP Industries a.s. The company's activities in Austria and South Tyrol will remain a part of Energie AG. The sales contract was signed late last week and the transaction is expected to be completed in the second half of 2013. This concludes AVE's "strategy check", its strategic review of all of its operational units.
EP Industries' (EP) offer covers AVE's operations in the Czech Republic, Slovakia, Hungary, Romania, Moldova and Ukraine. The activities will be transferred the Czech industrial group for a total consideration of €108m, according to En-ergie AG. The ten companies EP already holds are centred in the power engineering, transport infrastructure and automotive industry sectors.