Saudi Amiantit unit to acquire German PWT
28 Oct 2014
(MENAFN) International Infrastructure Development Management & Operation Company Ltd announced it has acquired additional 20 percent of shares in PWT Wasser und Abwassertechnik GmbH (PWT), which is a company registered in Germany, Arab News reported.
The company, which is a 100 percent subsidiary of the Amiantit Group, previously owned 80 percent of the company, and now added with new acquisition, it now brings the company’s total investment in PWT to 100 percent of its shares.
The shares were purchased from the previous minority shareholders for a total value equivalent of approximately USD1.65 million, while the corresponding value of the shares is expected to amount to USD3.09 million.