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MCS Services Limited ( (AU:MSG) ) just unveiled an announcement.
MCS Services Limited has entered into an agreement to sell its Highways Traffic Pty Ltd subsidiary to Altus Traffic Pty Ltd for $1.4 million, pending shareholder approval. This strategic decision follows the sale of its larger MCS Security subsidiary and is driven by the limited scale and profitability of Highways Traffic, as well as the competitive landscape and regulatory costs. Altus, a leading traffic management company in Australia and New Zealand, is expected to integrate Highways Traffic effectively, leveraging its extensive resources and experience in acquisitions.
More about MCS Services Limited
MCS Services Limited operates in the traffic management industry, providing services through its subsidiary Highways Traffic Pty Ltd. The company focuses on managing traffic operations, with a market presence that has been challenged by regulatory costs and competitive pressures.
Average Trading Volume: 10,507,293
Technical Sentiment Signal: Sell
Current Market Cap: A$1.58M
For an in-depth examination of MSG stock, go to TipRanks’ Overview page.