AUSTRIA: CVC CHANGES PLANS FOR LENZING
Article Abstract:
Unternehmens Invest AG (UIAG), Vienna-based investment company controlled by Deutsche Bank, has withdrawn from a consortium that is bidding for Bank Austria's 51% stake in the Austrian Lenzing-based fibre producer Lenzing AG. UIAG was to bid jointly with the British venture capital company CVC Capital Partners, which is the main shareholder of Lenzing's competitor Acordis. UIAG's withdrawal is said to be linked with the change of plans by CVC, which now wants to combine all fibre activities of Lenzing and Acordis. This arrangement would have reduced the say of UIAG. Other bidders for Lenzing are Cornelius Grupp (owner of former Lenzing subsidiary Glanzstoff Austria) together with Alfred Heinzel (owner of Zellstoffabrik Pols), and Hannes Androsch.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
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AUSTRIA: ANOTHER BIDDER FOR LENZING
Article Abstract:
Alfred Heinzel, director of the Swedish-German paper group SCA Hygiene in Austria, is to submit a takeover bid for the Austrian fibre producer Lenzing together with industrialist Cornelius Grupp. Also entrepreneur Hannes Androsch and the venture capital firms UIAG and CVC have shown interest in Lenzing.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
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AUSTRIA: LENZING, ACORDIS PUT OFF TALKS
Article Abstract:
The Austrian Lenzing-based fibre producer Lenzing AG and its US competitor Acordis have postponed talks about a joint venture. However, Bank Austria is in talks with CVC Capital Partners about the sale of Lenzing. Acordis is a shareholder of CVC Capital Partners.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
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