AvW Management-Beteiligungs AG
At 26.9 per cent, AvW now holds blocking minority in Binder+Co
Krumpendorf/Wörthersee (euro adhoc) -
Profit of EUR 2 million through sale of smaller investments
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investments
The Austrian investment group AvW Gruppe AG has increased its investment in the listed Styrian engine construction company Binder+Co AG (BIND.VI) to 26.9 per cent. "As previously announced, this has enabled us to reach a blocking minority. Now, we will redirect our focus to the IT sector," says Wolfgang Auer von Welsbach, Chairman of the AvW Management Board. In total, AvW has invested around EUR 11 million into its shareholding in Binder+Co. AvW also aims to move into the company´s supervisory board. "We see ourselves as a strategic partner and intend to accompany Binder+Co over the long term," Mr. Auer von Welsbach continues.
In the meantime, AvW has sold its stakes of 1 per cent each in the Australian gold mining company Equigold and the Russian IT company IBS Group. Overall, this resulted in a profit of around EUR 2 million for AvW.
In the near future, AvW plans to redirect its focus to the IT sector. "The prospects look highly promising and we therefore intend to significantly expand our investment portfolio in this area," says Mr. Auer von Welsbach. One of the medium-term goals of AvW is to acquire a blocking minority in the German IT company Cancom (COCG.DE).
About Auer von Welsbach Group
AvW Group is an Austrian investment company focusing on small caps in Austria, Germany, Asia and Australia. In the past year, around EUR 120 million were invested in the company´s equity holdings. AvW already ranks among the largest, most profitable and fastest growing investment companies in Austria. AvW participating certificates (AVWIga.F, ISIN AT0000703269) of the AvW Group are listed on the Frankfurt Stock Exchange. More information about AvW is available on the Internet at www.avw.eu
end of announcement euro adhoc
Further inquiry note:
AvW Gruppe AG
Mag. Brigitte Burger
Investor Relations
Tel.: 04229 3621 24
mailto:b.burger@avw.eu
Branche: Economy, Business & Finance
ISIN: AT0000703269
WKN: 763759
Börsen: Börse Frankfurt / free trade