AUSTRIA: PORR LOOKING FOR NEW SHAREHOLDERS

Article Abstract:

Austrian construction group Porr is looking for new shareholders. RZB and Bundeslander-Versicherung, which hold 20% in Porr, want to sell the stake, while Bank Austria wants to reduce its stake from 35% to 20%. Porr would like the shares to go to companies active in construction-related sectors. Moreover, Porr is planning a capital increase in 2000 at the latest in order to raise the equity ratio to at least 20% from 14% at present. Two possible acquisition cases are still pending. One of the targets is Wibeba, which belongs to Bank Austria. The other one is Teerag Asdag, in which Porr already holds 7%. The rival bidder for this company, Universale, is a subject of takeover speculations itself.

Asset sales & divestitures, Financial management, A. Porr AG, RZB Finance L.L.C., Bundeslander Versicherung AG

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Austria: Recession in wholesale and building trade

Article Abstract:

According to the economic research institute (Wifo) the building industry crisis continues with a production value up to July 2001 of 2% below the value of year 2000. Also the wholesale trade is in recession, contrary to the tourism industry, which increased 4% from May to September 2001, and the retail trade, with a growth of 2% from January to September 2001. For the food industry no data is available due to statistics being reorganised.

Construction industry

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AUSTRIA: CONSTRUCTION OUTPUT UP

Article Abstract:

Construction output by Austrian construction companies increased by 2.2% to Sch 82.6bn in the first eight months of 1999. While building construction increased by 3%, infrastructure works rose only by 1.1%. Building projects in the public sector increased by 4.3% to Sch 30.7bn.

Sales & consumption

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