Dominion closes the purchase of the Abantia production units
The acquisition is expected to increase Dominion's sales by 70 million euros.
Dominion has completed the purchase process of the infrastructure, industrial and renewable energy production units of the Catalan firm Abantia, for which it will pay two million euros, according to the CNMV. The operation has been articulated through the new subsidiary Dominion Industry & Infrastructures.
Abantia is currently in bankruptcy, with debts of about 140 million euros, and has a staff of 925 people, who now pass to Dominion.
This company, with presence in 28 countries, has been listed on the stock exchange since April 27 and is owned by the Basque group CIE Automotive by more than its 50%. It is estimated that, with this operation, the Dominion group will increase its annual sales by approximately 70 million euros.
After the integration, Dominion will launch an industrial plan over the next few months with the aim of recovering the level of business activity of the newly acquired company.
On the news: