NORD Holding sells its stake in AVISTA Oil.

NORD Holding has successfully sold its minority stake in AVISTA Oil, one of the leading used oil processing companies in Europe and the USA, to Bitburger Holding and SKION. Financial terms were not disclosed. The minority investment was executed with the purpose to fuel the company's long-term growth plan, to internationalise the existing business and to expand the product portfolio. "We are pleased, that we were able to support the excellent management of AVISTA OIL at major developments, such as their international expansion into the USA. The new shareholder base allows AVISTA OIL to reach the next level of growth", Andreas Bösenberg, NORD Holding Managing Director.