M&A

M&A

Water-tech co Va Tech Wabag sells Czech subsidiary for 1-M euros

BSE Announcemen   Business Line  

Publicly listed, Chennai-based water technology firm, Va Tech Wabag Ltd has sold 100% of its Czech Republic subsidiary, VA Tech Wabag Brno spol. S.r.o., to Czech engineering firm VCL Group, for 1 million euros. Established on May 27, 1994, Wabag Czech is held by VA Tech Wabag GmbH, Austria. It was acquired by VA Tech Wabag in 2007 as part of the acquisition of VA Tech Wabag Global Business from Siemens Aktiengesellschaft Osterreich through VA Tech Wabag (Singapore) Pte Ltd. The Czech subsidiary contributed 0.62 % of the turnover of Va Tech Wabag Ltd in FY22.