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Penta buying majority stake in German engineering company

Slovak investment group Penta is buying a 75-percent stake in German engineering firm Gehring Technologies Holding from another German company, Stargate Capital, which will retain the remaining 25-percent stake, Penta announced on Thursday, October 4.

Slovak investment group Penta is buying a 75-percent stake in German engineering firm Gehring Technologies Holding from another German company, Stargate Capital, which will retain the remaining 25-percent stake, Penta announced on Thursday, October 4.

"The transaction is now subject to the approval of the anti-monopoly offices and its value will not be disclosed," Penta stated, as quoted by the TASR newswire. According to Martin Kúšik, who is responsible for Penta's expansion and business development in Germany, this marks Penta's entry into the German market and further steps will follow. Gehring Technologies Holding deals with engineering technologies that are used mainly in the automotive and aviation industry. The company forecasts earnings of €130 million for 2012. It currently employs 630 people, 530 of them in Germany.

Source: TASR

Compiled by Zuzana Vilikovská from press reports
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