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Austrian Market Headlines and Analysis

Kleinbank Wants to Buy Raiffeisen's Slovenian Subsidiary

The Slovenian Kleinbank Gorenjska banka is reportedly interested in taking over the Slovenian subsidiary of Raiffeisen Bank International (RBI). In the near future Gorenjska banka will carry out a due dilligence of the Slovenian subsidiary of RBI "Dnevnik” daily reported.

Yesterday

RBI’s Client Owns 6 Percent of Russia’s Oil Group Tatneft

The Austrian listed Raiffeisen Bank International (RBI) controls in the name of an unnamed client a 6.09 percent stake of Russia's sixt largest oil group Tatneft. It was stressed that the stake is not owned by RBI.

Yesterday

Tax Reform: Trade Union Bans Account Disclosure

A tax initiative of the Austrian trade unions association (Österreichischer Gewerkschaftsbund, ÖGB) criticised the end of the bank confidentiality in Austria, stipulated under the latest tax reform.

Yesterday

Publisher Manz Takes Over Legal Databank Provider IMD

As of May 1, Manz from Vienna has retroactively taken over IMD Informations, Medien und Datenverarbeitungsgesellschaft mbH. IMD is a leading provider of services in the area of electronic legal communication (webERV), commercial register and land register Manz announced.

Yesterday

Hypo/Heta - EUR 1 Billion Subordinated Bond Could be Cut Completely

A subordinated bond of EUR 1 billion (USD 1.117 billion) of the former Hypo (now Heta) from 2012 could be cut completely due to the poor condition of Heta. The federal government will have to stand in for Heta "Standard” reported.

Yesterday

EC Okays Sale of Duropack to British DS Smith

The European Commission agreed on Friday to the sale of Austrian paper producer Duropack to British packaging manufacturer DS Smith. The EC had no competition-related concerns.

May 22, 2015

Mayr-Melnhof Closes Facility in Gunskirchen

Stock-listed cardboard maker Mayr-Melnhof is closing down its folding-box factory in Gunskirchen, in order to focus production in Vienna by the end of the year. 100 people will lose their jobs.

May 22, 2015

Allianz Elementar to Acquire Remaining 50 Percent of Bawag Allianz Vorsorgekasse

Allianz Elementar Versicherung, 50-percent owner of BAWAG Allianz Vorsorgekasse, will acquire the remaining 50 percent from BAWAG PSK.

May 22, 2015

Uniqa Boosts Profit in Q1

Thanks to boosting profit in the first quarter of the year insurance group Uniqa confirmed that it is on course to achieve planned growth of profit in the whole year. In the period till March a surprisingly strong growth in premium income was recorded.

May 22, 2015

Bwin.Party Gaming to Decide on Takeover Offers in Coming Weeks

Listed Austrian and British online gambling firm bwin.party will make the decision concerning takeover offers received in the coming weeks, bwin.party said. The talks over the issue have reached "a new phase,” the company said stressing that it is not certain that the negotiations will end in a transaction.

May 22, 2015