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.

Topic: Foreigners in Slovakia

More...

Top stories

Tesco in Zvolen
Business

Tesco might quit Slovakia

BRITISH retail chain Tesco is pondering quitting Slovakia after 19 years and selling 155 outlets, 18 filling stations and two big distribution stores, the Sme daily wrote.

02. Mar 2015
Commissioner Maroš Šefčovič
Opinion

Why we need the Energy Union

The Energy Union is an ambitious project, but done correctly it will set the EU’s energy policy for the foreseeable future and bring long term benefits to both businesses and citizens.

02. Mar 2015
Politics & society

Minister seeks to modernise education

While Education Minister Juraj Draxler does not have a full four-year tenure to implement his vision for Slovakia’s education sector, he is offering plans that he thinks will push the country forward.

02. Mar 2015
Companies spend 207 hours on average fulfilling tax duties in Slovakia, the report found.
Business

Changes to corporate tax make slow progress

Country comes 100th in global ranking; high income tax and bureaucratic duties blamed.

02. Mar 2015