Yalco reaches preliminary agreement for sale of Romania subsidiary

TAGS: Business

Athens-listed firm Yalco Constantinou SA announced on Wednesday it has reached a provisional agreement for the sale of its Romanian subsidiary, Yalco Romania Srl as part of the restructuring process agreed with its crediting banks, so that it can concentrate on its domestic activities.

The transaction, expected to be completed by end-2016, will amount to 1.9 million euros and involve an unnamed buyer.