AUSTRIA: POTENTIAL BUYERS FOR LENZING
Article Abstract:
Bank Austria, which together with Creditanstalt holds 50.01% of the stock of Lenzing AG, has confirmed that CVC Capital Partners of the UK has indicated interest in buying the banks' stakes in the Austrian Lenzing-based fibre producer. CVC holds 60% of the stock of Lenzing's competitor Acordis. Reportedly the latter's viscose fibre division would be transferred to Lenzing. This would make Lenzing by far the biggest viscose fibre maker worldwide. Bank Austria has been looking for buyer for Lenzing for some years. Following an improvement in 1998, Lenzing is expected to make losses in 1999. Beside the Lyocell factory
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 1999
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AUSTRIA: EU TO LOOK AT LENZING SALE
Article Abstract:
The European Commission is to investigate the sale of the Austrian fibre producer Lenzing AG to CVC Capital Partners of the UK. The investigation is expected to take four months. If the Commission approves the deal, CVC will have to submit an offer for the remaining 20% of Lenzing shares. The full takeover might cost about EUR 335mn.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2001
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