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S&T Buys 48% Stake of Russia's Affair OOO for EUR 5.87 Million

Published: June 6, 2014; 18:20 · (Vindobona)

By acquiring a huge stake in the Russian energy and software development company, Linz based S&T AG substantially expands its appliances segment and smart energy portfolio. Affair OOO group employs 600 employees; its annual revenues amount to EUR 70 million. S&T's consolidated revenue is set to rise in 2015 to EUR 440 million.

S&T signed a contract for the acquisition of 48% of the shares of Affair OOO / Picture: © S&T Austria GmbH

S&T AG signed today a contract for the acquisition of 48% of the shares of Affair OOO.

The company is headquartered in Moscow, Russia.

Affair OOO serves as a holding which has a 74.5% stake in its operating subsidiaries.

They have been active for many years in the areas of smart energy and software development.

The group employs some…

This article includes a total of 504 words.

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