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Waberer’s agrees deal to take majority stake in Hungarian rail freight firm
Photo: Waberer's press materials

Waberer’s agrees deal to take majority stake in Hungarian rail freight firm

Hungarian road transport outfit Waberer’s has announced it has signed a preliminary agreement to acquire 51% of the share capital in rail freight company Petrolsped Kft. Waberer’s says the deal will boost its intermodal capabilities.

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Gregor Gowans

Gregor Gowans

Journalist Trans.INFO

20.07.2023

Hungarian road transport outfit Waberer’s has announced it has signed a preliminary agreement to acquire 51% of the share capital in rail freight company Petrolsped Kft. Waberer’s says the deal will boost its intermodal capabilities.

Waberer’s agrees deal to take majority stake in Hungarian rail freight firm
Photo: Waberer's press materials

In a press release, Waberer’s confirmed that the preliminary agreement covers the purchase price and the main contractual terms.

However, the detailed framework of the transaction will only become final after the full contractual negotiations, when the final sale and purchase agreement and the shareholder agreement will be signed.

Hungarian-owned Petrolsped Group is described by Waberer’s as one of the leading railway logistics service companies in Hungary. The company provides railway transport services, partly with its own railway vehicles, mainly focusing on the territory of Hungary and Romania.

The consolidated revenue of Petrolsped exceeded HUF 21 billion in 2022 (roughly €55.5m).

Waberer’s says the deal is part of its plans to diversify its service portfolio and, upon successful completion of this acquisition, will significantly improve its railway logistics capabilities.

“Upon successful completion of the acquisition, Waberer’s will provide its customers an even wider portfolio of services, it will be able to enter the special transport segment that currently mainly uses railway services (e.g. agricultural products, construction materials), and it will increase its readiness to implement the plans defined by the EU, to migrate long-distance transport tasks to railway as much as possible, and together we will be able to significantly increase the volume of intermodal services for the combined transport of trailers by rail and on road,” stressed the company, in its press release.

Waberer’s added transaction will be completed after successful completion of the usual due diligence and contractual tasks, as well as approval of competition authorities, expected in the last quarter of 2023.

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