Austria: Cartel court stops Wolters Kluwer

Article Abstract:

The provincial high court of Vienna has blocked the acquisition of the Austrian publisher Linde-Verlag by Wolters Kluwer group. Wolters Kluwer Beteiligungs GmbH announced the acquisition of the Austrian legal publisher in spring 2001. The court held that by taking over Linde, Wolters Kluwer would have gained a dominant position in the Austrian law publications market, as the Dutch group already owns a 40% stake in Manzsche Verlags- und Universitatsbuchhandlung of Vienna. This is the first time that a cartel court in Vienna has prohibited a takeover entirely. In the past takeovers have been accepted partly with restrictions.

Government regulation (cont), Economic Programs, Administration of Economic Programs, Economic policy, Wolters Kluwer N.V.

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Austria: Frauenberger-Gruppe has debts of Sch 330mn

Article Abstract:

At the opening of the bankruptcy settlement hearing for three companies within Austrian publishing group, the Frauenberger-Gruppe, it was discovered that the group's liabilities amount to Sch 330mn. The liabilities of every other insolvent company in the Burgenland state put together amount to just Sch 323mn. The group, whose assets are worth Sch 190mn, has offered its 1900 creditors 40% of what it owes, to be paid by 2003. A spokesman for 1870 of the creditors said that it was unacceptable to have to wait two years to receive the payments. The hearing will continue on 11 December 2001.

Organizational history

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