Published On: Wed, Aug 21st, 2013

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.

/ 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.
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