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Wednesday, 08. February 2012 - 00:02

Breaking News:

Greens write off debt brake accord Greens chairwoman Eva Glawischnig has claimed the government stopped being interested in adding a debt brake to the constitution.
Electricity supplier switch barriers to disappear Peopleâ€™s Party (Ã–VP) Economy Minister Reinhold Mitterlehner has promised a further reduction of bureaucratic obstacles for people planning to change their electricity providers.
End of austerity package talks in sight, says Khol A Peopleâ€™s Party (Ã–VP) board member has claimed that the upcoming savings package would be presented within the coming days.
Erste Bank expert optimistic about Hungary The chief analyst of Austriaâ€™s biggest bank has said chances for a political agreement about the difficult economic condition of Hungary are good.
Spindelegger upsets SPÃ– Peopleâ€™s Party (Ã–VP) Vice Chancellor Michael Spindelegger has caused a stir by revealing details of the upcoming austerity package.
Tragic schoolgirl Julia to be laid to rest An Austrian schoolgirl whose disappearance was once linked to incest monster Josef Fritzl is to be buried today.
Camera leads to hit and run boarder arrest Austrian police have arrested a hit-and-run snow boarder after issuing the man's picture to local media.
Vranitzky appreciates tuition fees discussion Former Social Democratic (SPÃ–) Chancellor Franz Vranitzky has said he welcomes the current debate about a reintroduction of tuition fees.
Westbahn welcomes 6,000 a day Westbahn manages to sell one in two of the overall number of tickets it offers, a spokesman said today (Fri).
Wiener Linien records rising demand for annual passes The number of people opting for annual Wiener Linien tickets is soaring.
Vice chancellor refuses to exclude FPÃ– The Peopleâ€™s Party (Ã–VP) keeps refusing to disassociate itself from the Freedom Party (FPÃ–) following FPÃ– leader Heinz-Christian Stracheâ€™s controversial comparisons with the Nazi era.
Vienna Ã–VP endorses proposed district cuts Vienna Peopleâ€™s Party (Ã–VP) Josefstadt district head Veronika Mickel suggested continuing to speak about a reduction of positions in the city's administration.

29. 07. 10. - 14:45

XXXLutz in €200mn Lesnina deal

Austrian furniture megastore chain XXXLutz has coughed up around 200 million Euros to snatch up a Slovenian competitor, it has been claimed.

Business dailies report today (Thurs) that XXXLutz – which has around 17,000 employees – transferred between 150 and 200 million Euros to Lesnina owners to take over the company in full.

Bosses at the company which has its headquarters in Wels, Upper Austria, and Lesnina chief Bojan Papic refused to reveal any details of the deal which was announced yesterday. Cartel authorities are now set to look into the takeover.

Fifteen other firms from all over the world were interested in buying the furniture firm which has a 25 per cent share in the Slovenian market but also runs branches in Croatia and Serbia.

XXXLutz, one of Austria’s biggest companies, has recently opened a string of megastores in Germany. The firm also manages shops in several Central and Eastern European (CEE) countries.

XXXLutz in €200mn Lesnina deal

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