A PYMNTS Company

Slovakia: Motivation behind steam gas sale questioned

By  |  May 4, 2014

Financial group Penta has reportedly divested its ownership in PPC Investments, the conglomerate that umbrellas assets including Steam-Gas Cycle, to El Group, say reports.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Regulators at Slovakia’s competition authority will still need to approve of the sale, which was reported to be part of Penta’s decision to focus on other industries.

    But local media said the sale could be due to Penta’s expired agreement with a heating plant earlier this year, leading to profit drops. Reports say at the time the agreement was first made, the plant was serviced by PPC.

    Full content: The Slovak Spectator

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.