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.
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
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