SNCB Logistics partly privatized

SNCB LogisticsThe Executive Board of SNCB has accepted the offer of Argos Soditic allowing them to subscribe to a capital increase. Upon completion of this deal, Argos Soditic will hold a 66.6% stake in SNCB Logistics.
The deal will help strengthen the financial resources of SNCB Logistics by a total of EUR 70 million, of which EUR 20 million originates from a capital increase by Argos Soditic and EUR 50 million from external financing. In addition, SNCB will convert into capital the convertible subordinated loan of  EUR 25 million which it had made available to the company.
Argos Soditic intends to support the company and its management in their efforts to develop new services and products, as well as in strengthening client relations.
This agreement will be subject to the approval of the relevant authorities.

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