ALTEO Completes Waste Management Firm Acquisition

In compliance with its obligation of extraordinary disclosure of information according to the relevant regulations, the Hungarian energy services provider ALTEO has announced on the website of the Budapest Stock Exchange that the closing preconditions of the sale and purchase contract for the acquisition of ÉLTEX Trade and Shipment Ltd., signed on December 20, 2024 by ALTEO Plc. and Global Refuse Holding Plc., have been fulfilled, and as of today ALTEO has become 100% owner of the company.

The core activities of ÉLTEX Kft. include the treatment, transport and sorting of electronic waste and other hazardous and non-hazardous waste, and seeking out and exploring markets for recycled materials, which has made it one of the leading waste management companies in Hungary over the past decade.

The acquisition will enable ALTEO’s waste management business to manage even more material streams and at the same time return even more valuable waste materials into the cycle. By concluding

the acquisition, ALTEO has taken a significant step towards achieving its strategic goal of becoming the leading player in the domestic circular economy by 2030.

“Following the completion of the acquisition, our goal is to exploit the synergies and competencies within ALTEO Group to provide an even higher level of service to the existing and expanding customer base of ÉLTEX and our other waste management subsidiary, FE-Group Invest Zrt. At the same time, this also provides us with the opportunity to implement further technological developments that will enable us to recycle an even higher proportion of electronic and energy waste,” stressed Anita Simon, ALTEO’s Deputy CEO for Sustainability and Circular Economy, regarding the conclusion of the transaction.