FOCUS SHORT

Italians selling shares in Kosit

ITALIAN shareholders are leaving the Košice-based waste management company Kosit. They are selling their 66-percent stake in Kosit to the investment group Wood & Co for over €14.2 million, the SITA newswire wrote on June 16. The city of Košice, which holds the remaining 34 percent stake, has not used its pre-emptive right, but has kept its minority stake. The whole transaction is taking place under the auspices of UBS bank. Until the whole transaction is over, Italian investors cannot provide any detailed information.

ITALIAN shareholders are leaving the Košice-based waste management company Kosit. They are selling their 66-percent stake in Kosit to the investment group Wood & Co for over €14.2 million, the SITA newswire wrote on June 16. The city of Košice, which holds the remaining 34 percent stake, has not used its pre-emptive right, but has kept its minority stake. The whole transaction is taking place under the auspices of UBS bank. Until the whole transaction is over, Italian investors cannot provide any detailed information.

Kosit was launched in 2001 based on a project of Košice city, which held an international tender to sell its incinerating plant. The winner of the tender launched with the Košice city council a joint-stock company to collect and dispose of municipal waste as well as to provide regular summer and winter road and street maintenance.

Kosit is one of the five most significant companies active in this field in Slovakia. For the time being, it provides services to about 260,000 citizens of eastern Slovakia and for around 500 business entities. It handles annually more than 80,000 tonnes of waste. The company employs more than 400 people.

Top stories

The referendum is said to protect traditional families.
Politics & society

Turnout key to referendum result

EVEN amid heated discussion about the content of a February 7 referendum targeting the constitutional definition of family, experts say the biggest test for supporters of the Alliance for Family (AZR) ballot initiative is whether turnout surpasses the required 50-percent quorum of eligible voters.

26. Jan 2015
One of the drugs to be withdrawn from pharmacies.
Business

Eleven generic drugs withdrawn from Slovak pharmacies

Slovak State Institute for Drug Control (ŠÚKL) on January 28 suspended the distribution of 11 generic drugs and withdrew them from the market.

29. Jan 2015
Krásna Hôrka Castle ablaze.
Culture & lifestyle

Reconstruction on Krásna Hôrka Castle continues

THE RECONSTRUCTION works on the Krásna Hôrka Castle, which was severely damaged by fire in 2012, continue in accordance with the plans, Judita Krajčiová of the Slovak National Museum (SNM) told the TASR newswire.

27. Jan 2015
Tom Nicholson
Opinion

Economy Minister Pavlis has to go

No one with such an obvious conflict of interest has any place in government.

30. Jan 2015