(Alliance News) - Estrima Spa announced Monday the sale of its stake in Birò Hellas to NextCom.

The board of directors also mandated the chief executive officer to carry out a review of the business plan approved on Sept. 27, "which for this activity will also make use of the support of external consultants, professionals with the authority to certify the document," the company specified in a note.

The revision of the plan and the sale of the shareholding in Birò Hellas, Estrima continues, "are necessary in light of recent developments and feedback on sales, which disregard growth expectations denoting a slowdown in demand, and aim to strengthen the use of Estrima Group's financial and operational resources, directing them toward even more effective and targeted management."

Estrima's stock closed Monday at par at EUR0.57 per share.

By Chiara Bruschi, Alliance News reporter

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