Everest Kanto subsidiary exits Hungarian joint venture for €96,000
Everest Kanto Cylinder Limited announced its wholly-owned subsidiary, EKC International FZE, Dubai, has signed an agreement to sell its 80% stake in EKC Europe Zrt., a Hungarian joint venture, for €96,000.
The stake was sold to JV partner Rév Gázipari Kft. and its associates. The company said the decision was made to consolidate losses and exit the Hungary project, influenced by the geopolitical situation.
The agreement includes a reduction in share capital and a future name change to remove the EKC name.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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