CWT acquires oil distributor in Serbia
The purchase consideration was US$750,000.
CWT Limited made the acquisition in Serbia via its subsidiary as part of its ongoing business development and expansion of supply chain management business.
Effective interest in MG Oil d.o.o is 75%. The company’s principal activity is import and distribution of oil to local traders and consumers.
The announcement said the acquisition is not expected to have any material impact on the net tangible assets or earnings per share of the CWT Group for the financial year ending 31 December 2012.