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Electra sells Belgian Devis Group Benelux for €32 million

Electra will report a pretax gain of €14 million on the sale of Devis Group Benelux.

LOGO
/ By Aviv Levy /

Electra Ltd. (TASE: ELTR) has closed the sale of its Belgian electromechanical business for €32 million (NIS 150 million). Electra will report a pretax gain of €14 million (NIS 65 million) on the sale, and a net cash flow of €26 million (NIS 120 million).
Electra, a subsidiary of Elco Holdings Ltd. (TASE: ELCO), controlled by Georg Salkind, said that will continue its international electromechanical business in other countries in Western and Eastern Europe, and that it expand the activity in Africa.
Published by www.globes-online.com 

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