Article Tools

S&T AG finalizes to focus its smart energy activities on Eastern- and Central Europe

Published: February 4, 2016; 08:07 · (Vindobona)

As announced in December, S&T will focus its smart grid activities on serving its main markets Central- and Eastern Europe. To that end, S&T has acquired Networked Energy Services Corporation's (NES) shares of the Europe-based Networked Energy Services GmbH (formerly Ubitronix GmbH), which had been operating as a local European branch for NES. Also, as part of its strategy to focus on its core markets, S&T AG has sold it's 56% stake in the Silicon Valley based NES Corporation to Cedrus Enterprises Holding, an existing shareholder of the company. Collectively, these transactions will yield S&T AG a positive increase in cash flow.

S&T AG finalizes to focus its smart energy activities on Eastern- and Central Europe / Picture: © Vindobona

 

--------------------------------------------------------------------------
Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
--------------------------------------------------------------------------

Mergers - Acquisitions - Takeovers

Linz, February 4, 2016. As announced…

This article includes a total of 1132 words.

or Log In

Fast News Search
Read More
ISIN
AT0000A0E9W5