ALTEO Energy Services Plc. announced on the website of the Budapest Stock Exchange that the closing conditions for the sale and purchase agreement for the acquisition of ÉLTEX Commercial and Transport Ltd. signed on December 20, 2024 by ALTEO Plc. and Global Refuse Holding Plc. have been fulfilled, and that as of this Monday, ALTEO has become the 100% owner of the company.
ÉLTEX Ltd.'s main activities include the management, transport and sorting of electronic waste and other hazardous and non-hazardous waste, as well as the search for markets for recycled materials, activities which have made it one of the leading companies in waste management in Hungary over the past decade. Through this acquisition, ALTEO's waste management business will be able to contribute to the management of even more material flows and, at the same time, to the return of even more valuable waste materials to the cycle. With the completion of the acquisition, ALTEO has taken a significant step towards achieving its strategic goal of becoming a leading player in the domestic circular economy by 2030.
"Our goal is to leverage the synergies and competencies within the ALTEO Group after the closing of the transaction to provide even higher quality services to the existing and continuously expanding customer base of ÉLTEX and our other waste management subsidiary, FE-Group Invest Plc. This also gives us the opportunity to implement further technological developments that will enable us to recycle as much electronic and energy waste as possible," Anita Simon, ALTEO's Deputy CEO for Sustainability and Circular Economy, emphasized in connection with the closing of the transaction.
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