October 8, 2012 / 6:36 AM / 5 years ago

Porr sees 2012 profit, decision soon on takeover-paper

2 Min Read

VIENNA, Oct 8 (Reuters) - Austrian construction group Porr expects to make a profit this year, its chief executive told a newspaper, adding that a decision on whether investors would get a takeover offer would come within days.

"I expect positive results this year," Karl-Heinz Strauss told Wirtschaftsblatt in an interview published on Monday.

It lost 80.5 million euros ($105.1 million) last year.

A foundation set up by UniCredit Bank Austria agreed in July to sell its stake to Strauss, making him the biggest shareholder in the company.

Strauss's investment company would then have a 44 percent voting stake, a level of holding which would oblige Strauss to make a full takeover offer.

Strauss declined to comment on where this stands, saying only that Austria's takeover commission was determining the minimum price that a mandatory offer would entail, then his company would decide what to do.

A decision was due this week, he said. "If all goes according to plan, we will have this phase behind us by early to mid-November," he said, adding that a capital incresase of 20 million to 30 million euros could then follow. ($1=0.7657 euros) (Reporting by Michael Shields; Editing by Greg Mahlich)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below