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VBAG and Sberbank Agree on Sale of VBI

After several months of negotiations the two banks have agreed on the main conditions of the sale of Volksbank International. The deal will be closed by the end of this year.
July 15, 2011


Volksbanken Group Speeds Up Sale of VBI

In the face of the looming negative result of the stress test, the Austrian bank is trying to conclude negotiations with Russian Sberbank.
July 13, 2011


Palfinger Takes Over Russian Inman

The Austrian crane manufacturer acquires its leading Russian competitor. Inman will generate revenue of € 20m this year.
July 11, 2011


OTP Bank Shows Interest in Volksbank International

The Austrian Volksbanken AG found a second potential buyer for its Eastern European subsidiary. The Hungarian OTP bank wants to expand into the markets where VBI has a presence.
July 7, 2011


Austrian Companies to Participate in Russian Research Center

The planned technology park will be home to up to 40,000 researchers. Twenty Austrian companies have expressed interest in participating in the project.
July 5, 2011


Sale of VBI to Be Signed in July

The Austrian Volksbanken Group and Sberbank have come close to an agreement on the sale of the Eastern European bank. The transaction price will be € 700m.
July 5, 2011


Kapsch TrafficCom Makes Important Step in Russia

A joint venture of the Austrian technology group has made it to the final stage of a tendering process for a Russian highway project.
July 1, 2011


Volksbanken Group to Sell Stake in RZB

Österreichische Volksbanken-AG Group (VBAG) will sell its shares in Raiffeisen Zentralbank for almost € 500m. The redemption of state capital and the sale of VBI have been delayed.
June 28, 2011


EU Commission Blocks OMV’s Deal with Gazprom

The Austrian oil and gas company does not get its desired Russian partner as the EU Commission has rejected a share transaction between the two companies.
June 20, 2011


Emerging Markets Boosting FACC

The Austrian aircraft component manufacturer relies on joint ventures in order to benefit from strong growth in emerging markets.
June 20, 2011


Raiffeisen Expanding Its M&A Business in Russia

The Austrian bank group is planning a joint venture between RBI and RIAG in order to put the investment banking in Moscow on a new footing.
June 16, 2011


Shopping Tourism: Asian Visitors Spending Heavily

Russia remains the top shopping nation while Asian tourists' spending is increasing significantly.
June 14, 2011


Immofinanz Considering Listing in Warsaw

The Austrian real estate group would be interested in a listing if red tape were reduced. It is currently looking for acquisition opportunities in Poland and Russia.
June 7, 2011


Sberbank Targeting RBI

The Russian bank intends to expand its business to Kazakhstan and the Baltic countries. Both companies denied speculations about a potential capital injection.
May 30, 2011


OeKB Facilitates Austro-Russian Projects

A recently signed agreement will increase the cooperation between OeKB and Russian Vnesheconombank.
May 27, 2011


Alpine Lands Pipeline Project in Czech Republic

The Austrian construction company is going to build 105.8 km of a new gas pipeline. The contract value is € 76.7m.
May 26, 2011


Novomatic Returns to Russia

The Austrian gaming machine manufacturer intends to cooperate with a Russian casino operator after it had to pull out of the country in 2009.
May 23, 2011


Austrian Companies Are Looking for Opportunities in Russia

A delegation of 140 people pursues contacts with potential partners during the state visit of President Fischer. The country’s economy is predicted to grow by 4% in 2011.
May 19, 2011


Major Contract for FMW

The Austrian industrial plant manufacturer wins a contract worth € 80m with one of Russia’s leading mining and metallurgical companies. Revenue already doubled to € 65m last year.
May 16, 2011


Immofinanz Closes Acquisition in Moscow

The Austrian real estate group takes over 100% of the GoodZone.
May 11, 2011


Immofinanz Strives for Presence in Russia

The Austrian real estate group plans to expand its activities further through the purchase of shopping centers in Moscow.
May 3, 2011


Tondach Gleinstätten is Awarded Exclusive Contract in Russia

Tondach Gleinstätten AG is awarded the contract for the supply of roofing materials for the Olympic project "Sochi 2014”
May 3, 2011


Eastern Europe as Growing Market for Austrian Wine Exports

Around 80% of the Austrian wine exports are going to Germany. However, growth rates in Russia and Poland are surprisingly high.
April 23, 2011


Russia is a New Promising Market for Kapsch

The Austrian technology group has reaped its first contract in Russia. The market has great potential, according to sources from Kapsch.
April 12, 2011


Mitterlehner: New Modernization Partnership Concluded with Russia

Minister of Economy: Investment opportunities for companies boost exports to Russia: innovations and new technologies as growth drivers.
April 1, 2011


VIG Leaves Russia

The Austrian Vienna Insurance Group accepts the offer to sell its Russian insurance participations.
March 31, 2011


RLB Upper Austria Intends to Grow in Russia

The regional bank Raiffeisenlandesbank Upper Austria (RLB) purchased a 2.95% share in the South Russian Krayinvestbank in Krasnodar.
March 14, 2011


FACC is Considering Going Public in Asia

The Austrian aircraft component manufacturer could soon be listed on the stock exchange in China.
March 11, 2011


Tourism: Trend for High-Price Segment Continues

Austria's tourism industry shows itself satisfied with the current winter season. Guests come increasingly from Eastern Europe.
March 3, 2011


VBI: Purchase by Sberbank is Looming

The sale of the Eastern European holding company of the Austrian ÖVAG is taking shape. Even Chinese investors are interested.
February 25, 2011


Agrana Expands in Russia

The Austrian sugar and starch company invests € 27.6m in fast-growing Russian market.
February 23, 2011


Southstream: Gazprom-OMV Cooperation

OMV and Russian Gazprom will work together on the construction of the Austrian part of the Southstream pipeline.
February 22, 2011


Knill Group Builds Factory in Russia for € 50m

The Austrian construction group records an order over € 50m for the establishment of the first optical fiber plant in Russia.
February 20, 2011


Strabag: Poland as a Replacement for Russia?

Sales of the Austrian construction company in Russia are slow in coming. Instead, other growth regions could be pushed.
February 9, 2011


Business Climate Improves in Eastern Europe

According to the Austrian Kontrollbank (OeKB), the Business Climate Index has risen in Eastern Europe for the seventh consecutive time.
February 9, 2011


150 New Bank Austria Branches in Eastern Europe

The new board of the CEE Division of Bank Austria presented the group's expansion plans for Eastern Europe. By 2015, 900 branches are to be added.
February 9, 2011


Oettinger Increases Pressure on OMV

In an interview with the daily newspaper "Presse", the European Commissioner for Energy considers that OMV must move now regarding Nabucco.
February 4, 2011


Consumption Expenditure of Foreign Tourists Grows

Russian and Chinese tourists are proving to be particularly generous consumers in Austria. Overall sales rose by 23% in 2010.
February 3, 2011


Kapsch TrafficCom with First Contract Award in Russia

The Austrian Kapsch TrafficCom AG announces that its Russian subsidiary has been awarded an order to equip traffic crossings.
February 1, 2011


Strabag: Russia as Growth Driver

For Hans Peter Haselsteiner, CEO of Austria's largest construction group, Poland and Russia offer the best prospects for expansion
January 28, 2011


Leitl Welcomes Medvedev's Idea for a European-Russian Economic Area

Closer cooperation between the EU and Russia would "stabilize economic and social development". Austria's foreign trade with Russia is flourishing.
January 28, 2011


Slight Upward Trend in Austrian Tourism

Tourism in 2010: 0.4% more overnights; all-time-high in number of arrivals.
January 27, 2011


Rise in Earnings for Palfinger

The Austrian crane manufacturer records a 29-percent plus in revenues for 2010. For 2011, the company shows an optimistic outlook.
January 25, 2011


Doppelmayr Awarded Major Contract in Sochi

The Austrian Doppelmayr Group has been awarded the contract for a 3S installation (tri-cable ropeway) in the Russian Olympic location of Sochi.
January 20, 2011


Bank Austria: Bank of Moscow is No Longer an Issue

Bank Austria will not submit an offer for the Bank of Moscow, against all market speculations. Instead, it will open its own branches.
January 20, 2011


Austria's Funds Showed a Plus in 2010

2010 was another year of gains for Austrian funds: of 1601 funds, 1464, showed a positive performance.
January 15, 2011


New Charges against Ruttenstorfer

The chairman of Austria's OMV is accused of market manipulation because of an interview.
January 14, 2011


Bank Austria Bids for Bank of Moscow

The UniCredit subsidiary is reported as holding talks with the Bank of Moscow to acquire a 46.5% stake.
January 14, 2011
New Perspectives for Nabucco

The European Commission wants to commit Azerbaijan to supply gas to Europe. This is expected to be done via the Nabucco pipeline.
January 14, 2011


CEE: Raiffeisen Remains Optimistic

The analysts of the Austrian Raiffeisen International Bank give Austria and the CEE good growth prospects. However, there still remain known risks.
January 12, 2011