Monbat mulls sales of three subsidiaries

Monbat mulls sales of three subsidiaries

Monbat mulls sales of three subsidiaries 714 944 Batteries International

February 8, 2024: European lead battery major Monbat is considering plans to sell off three subsidiaries including EAS Batteries — for which a planned deal fell through last year.

Batteries International has learned CEO Viktor Spiriev (pictured) told an investors meeting on January 22 there was “still a chance” of selling EAS to potential investors that had expressed an interest in the Germany-based lithium-ion subsidiary in recent months.

Spiriev also said Monbat is considering the possible sale of its Piombifera Italiana lead recycling facility in Italy, which it acquired in 2017, plus its Monbat Batterien lead battery production subsidiary based in Austria.

There were no plans to sell Monbat’s Nour lead battery subsidiary in Tunisia, in which the group acquired a 60% stake in 2022, Spiriev said prospects for that business continued to be very good as the group seeks to expand its market share across North Africa and the Middle East.

Batteries International asked Monbat to elaborate on its business plans and why it was considering the potential sales, but the company had not responded at the time of going to press.

In January 2023, Batteries International reported that Monbat’s plans to sell EAS to UK gigafactory developer Britishvolt in a cash and shares deal fell through after Britishvolt collapsed into administration.