The planned acquisition of the Slovenian Battery Factory (TAB) from Mežica has not been realized due to fluctuations in the South African rand and the Turkish lira.
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TAB’s talks with Metair Investments Limited from South Africa have been terminated, confirmed TAB’s director Bogomir Auprih for Ljubljana’s Dnevnik, as reported by Investitor.me.
“High volatility and the decline in the value of the Turkish lira and the South African rand, which are the most significant currencies for Metair, along with rising financing costs in both markets, represent objective circumstances that complicate the realization of strategic integration. Due to the current financial instability in South Africa, Metair wants to focus on business optimization,” it was stated in the explanation.
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The Carinthian company, whose revenues have increased approximately tenfold over the last two decades, intends to continue its search for a strategic partner.
