Athens-listed group Motor Oil announced on May 29 its wholly owned Cyprus-based subsidiary Ireon Investments Ltd entered into a sale-purchase agreement for the acquisition of 60% of the shares issued by the company under the trade name Enact SA.
The latter engages in the field of integrated waste management, providing an array of services comprising advanced systems for the collection, transfer and processing of waste and ancillary activities.
The decision to acquire the majority stake in Enact SA is compatible with the strategy of the Motor Oil Group for the enhancement of its presence in the field of circular economy, it said. The completion of the transaction is subject to the fulfillment of conditions, including its approval by the competition authority.
