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S&T AG finalizes to focus its smart energy activities on Eastern- and Central Europe
Press Wire ♦
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.org
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Mergers - Acquisitions - Takeovers
Linz, February 4, 2016. As announced…
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