AVAX has announced the sale of its 100% subsidiary, Volterra, which fulfils the company’s strategic decision at the end of FY21 to divest from all energy sector operations. This follows the sale of Volterra’s portfolio of renewable energy source (RES) projects in FY22. The total transaction price for the retail segment may reach up to €24m, which may generate a small book profit. The deal enables the company to fully focus on its core activities of construction, concessions and real estate. Its strong position is reinforced by recent awards of major contracts.
