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Austrian Market Headlines and Analysis

OMV Launches Search for Buyer for Turkish Unit Petrol Ofisi

OMV has also launched the search for the buyer for its Turkish unit Petrol Ofisi, the company said in an ad hoc statement. OMV wants to sell up to 100 percent in the Turkish filling stations chain.

Yesterday

OMV - Sale of Gas Connect Launched - Gazprom Not Interested

OMV has started the sale of a minority stake in its subsidiary Gas Connect Austria and has addressed potential buyers. However the Russian Gazprom hasn’t expressed interest in the purchase, OMV announced.

Yesterday

German Subsidiary of Novomatic Accused of Manipulation

The German Novomatic subsidiary Löwen Entertainment has been accused of manipulation. Providers of slot machines suspect that market leader Löwen can set the machines so that they can pay out less money in own 350 Löwen halls and more in locations of other providers.

Yesterday

Erste Group Moves to New Headquarters at Erste Campus

At the beginning of this year Erste Group started moving into its new headquarters at Erste Campus located in the new district of Quartier Belvedere, built on the former site of the Südbahnhof train station.

February 11, 2016

OeNB Governor Nowotny Objects to Top Limit of Cash Payments

Ewald Nowotny, head of Austria’s central bank OeNB, decidedly objects to having established a top limit for cash payments. He may not be responsible for that, but in his opinion, and in the sense of building trust in general, there is no reason to set up such a limit, he said in Brussels.

February 11, 2016

CA Immo Issues EUR 150-Million Corporate Bond

The listed CA Immobilien Anlagen AG will issue a corporate bond with a volume of EUR 150 million (USD 169 million) and a maturity of 7 years. The interest rate is 2.75 percent CA Immo announced on Wednesday.

February 11, 2016

Hypo Investigation: Sobotka Feels Out Of Place

The Hypo Alpe Adria investigative committee of parliament intends to interrogate Lower Austrian Finanzlandesrat (province minister of finance) Wolfgang Sobotka (Austrian People’s Party ÖVP) about the collapse of the Carinthian bank. The politician himself shows little understanding for the summons. Sobotka told journalists he suspected political reasons.

February 11, 2016

Atrium Sells 10 Objects in Czech Republic for EUR 102.6 Million

Atrium European Real Estate Limited has sold 10 retail property objects in Czech Republic. The inventory value of the sold real estate is EUR 102.6 million (USD 115.6 million), which means it is 8 percent over the accounting value from June 20, 2015 the company announced in a statement.

February 10, 2016

Voestalpine Boosts 3-Year Savings Programme to EUR 1 Billion

Weak economic development and the collapsing commodity prices affected also Voestalpine. The group is going to ramp up its cost-cutting program: "In the next 12 months another EUR 100 million will be saved” the head of the company Wolfgang Eder announced. The savings target by the end of financial year 2016.17 (end of March) set in March 2014 has thus been raised to EUR 1 billion.

February 10, 2016

Activ Solar Files for Reorganisation in Austria, Debts Reach EUR 500 Million

Vienna-based Activ Solar GmbH announced that it is bankrupt and that it has filed for reorganization in Austria due to its investment exposure in Ukraine. The company has amassed debts to the tune of EUR 500 million.

February 10, 2016