WAZ media group from Germany has sold its Stampa Sistem kiosk chain in Serbia to the Belgrade-based company Centroproizvod, WAS announced in a statement today.
The statement reads that the contract on sale of Stampa Sistem was signed on February 2 in Essen, where the headquarters of WAZ is situated, and that it has been agreed that the purchase price remains a business secret. WAZ announced that the sale of Stampa Sistem was part of the company’s strategy to gradually withdraw from Serbia. The new company will operate under the name of Centro Stampa.
Centroproizvod announced today that the acquisition of Stampa Sistem was in accordance with the company’ strategic development plans for expansion of business to the field with a good economic potential. Centroproizvod CEO Nemanja Popov said that the company would determine the amount of investments and future business moves upon taking control of Stampa and pointed out that Centroproizvod had invested over 30 million euros in development of the business to date.