is expanding in the Black Sea region with two offices in Bulgaria. An office was opened on Friday in the port city of Varna and another in the capital Sofia, as the Hamburg shipping group announced. Bulgaria is an attractive growth market for Hapag-Lloyd and occupies a strategic position in Southeastern Europe.
HELLA
will completely take over the brake joint venture Hella Pagid. As the automotive supplier announced, it has agreed with its joint venture partner TMD Friction that it will transfer its current 50 percent stake in Hella Pagid to Hella. A corresponding declaration of intent has been signed. According to the statement, both parties have “agreed not to disclose” the purchase price.
HIGH LOW
has received a major order in Hesse. As the group announced, it will expand the new justice center in Frankfurt am Main. Several courts, public prosecutor’s offices and judicial authorities will move into the two new buildings that are being built at Konstablerwache in the city center. The order has a volume in the mid three-digit million range.
JENOPTIK
is more optimistic about business developments until the end of 2025: The TecDAX-listed company expects an EBITDA margin of 21 to 22 percent for the year after next due to better-than-expected organic development. So far, an operating return of around 20 percent has been promised.
TOTAL ENERGY
divests itself of a minority stake in South Africa. The French oil company announced that it is selling its 36.6 percent stake in National Petroleum Refiners of South Africa (Natref) to the Prax Group. A price was not mentioned. The sale is part of the strategy to sell off business areas that are not part of the core business.
===
Contact the author: [email protected]
DJG/ff
(END) Dow Jones Newswires
December 01, 2023 07:19 ET (12:19 GMT)