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State Holding ÖIAG to be Renamed ÖBIB

Published: January 13, 2015; 18:30 · (FriedlNews)

Austrian state holding ÖIAG is going to be turned into a limited liability company (GesmbH) called "ÖBIB" Österreichische Bundes- und Industriebeteiligungsholding, which will be permitted to make new acquisitions and which will report directly to the Finance Ministry.

State Holding ÖIAG to be Renamed ÖBIB / Picture: © Österreichische Industrieholding AG (ÖIAG)

Until now the Österreichische Industrieholding AG or short ÖIAG, administers the investments of the Republic of Austria in partially or entirely nationalized companies. It is headquartered in Vienna.

In 1967 the Österreichische Industrieverwaltungs-GmbH (Austrian industry administration GmbH) was established to centralize the administration of the interests in nationalized companies.

It was transformed to the Österreichische Industrieverwaltungs-AG (Austrian industry administration AG) in 1970 and at the same instant got assigned the shares of the nationalized companies.

Since 1986 it bore the ÖIAG name.

The ÖIAG and the companies it owned formed a group, the Austrian Industries AG until 1993 when this group was split and the ÖIAG was instructed to privatize the companies it owned.

Now the ÖIAG will be renamed to ÖBIB (Österreichische Bundes- und Industriebeteiligungsholding).

Currently the ÖIAG owns following investments:

28.42% of the Telekom Austria
29.95% of APK Pensionskasse
31.50% of the Oil producer OMV
52.85% of the Österreichische Post
100.00% of the ÖIAG-Bergbauholding
100.00% of the Finanzmarkt Beteiligungs AG (FIMBAG)
100.00% of IMIB
100.00% of GKB
100.00% of Schoeller-Bleckmann