Austrian economic news in a flash - November 8

Top Story
Verbund, Austria's biggest utility, said it decided to start its EUR 1bn capital hike as of November 9. The maximum offer price is set at EUR 35 per share. Austria will have to contribute with EUR 510m to the increase in order to retain its 51% majority in the company.
*
Top Story
Russian billionaire Oleg Deripaska will return as a shareholder in Strabag in two stages. First he will take 17% in the company but will have an option to get further 8% until July 15, 2014. In return, the Austrian builder will take a stake of 26% in road construction group Transstroy.
*
Top Story
Technology group Andritz said its EBIT grew 79.4% to EUR 156.3m in the first nine months of 2010. Net profit rose to EUR 114.6m, while sales increased 5.5% to EUR 2.46bn. The company said it expects a slight rise of its 2010 sales compared to 2009, while its net profit will be positively affected by the implemented restructuring measures.
*
Top Story
Caterer Do&Co has decided to launch a capital increase of 25% with an offer price of EUR 21.90. As a total, the company projects proceeds of EUR 40m from the move. Do&Co is to start a secondary listing on the Istanbul Stock Exchange as of December 2.
*
Austrian Post AG celebrated on Monday the opening of its 1,000 office located at a site of one of its partners. Thus, the company has a network of 1,866 branches and plans to attract around 500 more partners in the future.
*
TeleTrader Software AG posted a net loss of EUR 209,000 for the first three quarters of 2010, up from a loss of EUR 197,000 a year earlier. Sales rose 3.8% to EUR 4.99m.
* 
Wiener AutoBank AG said it will start trading on the entry standard of the Frankfurt Stock Exchange as of November 19. The subscription period for the shares runs between November 8 and 16. The issue price stands at EUR 2.50. The proceeds from the move are seen at up to EUR 4.8m.
* 
OMV plans to finance the planned takeover of Turkish Petrol Ofisi via the issue of convertible bonds and not via new shares, Bloomberg reported quoting unnamed sources. The final decision will be taken in the next two days.
*
C.A.T. oil said it plans to invest a total of EUR 150m in the next two years. Majority of the sum will be spent on the set-up of a third core business segment - onshore drilling services.
*
Real estate company Immofinanz said it will buy 4.53% of its own shares as of next Friday. The share repurchasing programme will probably run until April 12, 2011.