The new owner of struggling supermarket chain Zielpunkt has rubbished rumours that he plans a sale. Business newspapers are speculating about a sale of the firm in the foreseeable future due to stagnating earnings and decreasing turnover. Zielpunkt has 300 stores in Austria. Most of them are situated in capital Vienna. The enterprise has around […]
Tag: takeover
VBI sale ‘sealed soon’
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Volksbank AG (ÖVAG) bosses and Sberbank chiefs will sign contracts about the planned takeover of Volksbank International (VBI) later this week, according to Austrian business papers. Reports from today (Mon) have it that the struggling Austrian bank eventually agreed with the Moscow-based finance sector giant about a takeover price for VBI. Sberbank declared interest in […]
A-Tec sale hit by Penta lawsuit
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The sale of broke industrial company A-Tec Industries AG (A-Tec) could be overruled by judges after a defeated bidder revealed plans to appeal the deal in court. Czech-Slovakian investment company Penta announced today (Tues) an affiliate has asked the Commercial Court of Vienna for an injunction of the agreement between A-Tec bosses, representatives of creditors […]
Russian banking top dog about to grab VBI
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A Russian institute has got one step closer to acquiring the international branch of one of Austria’s biggest banks. Bosses of Volksbank AG (ÖVAG) and Moscow-based Sberbank signed a declaration of intent about a takeover of Volksbank International (VBI) yesterday (Thurs). The teams of negotiators refused to reveal an envisaged takeover price. Business newspapers claim […]
Strabag snatches Möbius
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Austrian construction company Strabag SE has taken over a port and hydro power and building technology specialist in full. The Vienna-based firm acquired a 70 per cent interest in Josef Möbius Bau AG (Möbius) four years ago. The company, which has its headquarters in Hamburg, carried out projects worth 150 million Euros in 2007, according […]
RZB boss denies VBI takeover aim
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Raiffeisenzentralbank (RZB) chief Walter Rothensteiner has ruled out being interested in the acquisition of two struggling competitors.Rothensteiner told the Kurier newspaper today (Mon) that RZB had no intentions to approach Hypo Group Alpe Adria (HGAA) and Volksbank AG (ÖVAG about a takeover or a cooperation.The banker argued there would be “no sense” in acquiring HGAA […]
Austrian lingerie manufacturer Palmers has warned it will try to withdraw the takeover of rival Lejaby amid suspicions its previous owner gave wrong information about its finances.Palmers boss Thomas Weber told business magazine Trend his firm was considering approaching US American Warnaco Group to discuss chances for a retroactive reduction of the takeover price of […]