Österreichische Beteiligungs AG

The Österreichische Beteiligungs AG (ÖBAG; English: Austria Holding PLC) is an Austrian state-owned holding company that can be characterized as a sovereign wealth fund. It administers the investments of the Republic of Austria in partially or entirely nationalized companies. It is headquartered in Vienna.[1]

Österreichische Beteiligungs AG
Austria Holding PLC
TypeAktiengesellschaft
IndustrySovereign wealth fund
Founded1967 (1967)
Headquarters
Vienna
,
Austria
Key people
Edith Hlawati (CEO)
Günther Ofner (Chairman of the supervisory board)
OwnerRepublic of Austria
Websitewww.oebag.gv.at

History

In 1967, the Österreichische Industrieverwaltungs-GmbH (Austrian industry administration GmbH) was established to centralize the administration of the interests in nationalized companies. It was transformed to the Österreichische Industrieverwaltungs-AG (Austrian industry administration AG) in 1970 and at the same instant got assigned the shares of the nationalized companies. The ÖIAG (since 1986) and the companies it owned formed a group (the Austrian Industries AG) until 1993, when this group was split and the ÖIAG was instructed to privatize the companies it owned.

In 2015, the Austrian state holding ÖIAG was turned into a limited liability company (GesmbH) called Österreichische Bundes- und Industriebeteiligungsholding (ÖBIB), which was permitted to make new acquisitions and which reported directly to the Ministry of Finance.[2] In 2018, the ÖBIB was reorganized into a public limited company again, called Österreichische Beteiligungs AG (ÖBAG).[3]

Investments

The ÖBAG holds shares in:

  • 100.00% of the GKB Bergbau GmbH, a mining holding
  • 100.00% of the Finanzmarkt Beteiligungs AG (FIMBAG) in Liquidation[4]
  • 100% of the Schoeller-Bleckmann steel mill

Severe protests from politicians, unions and workers' councils were the results of the privatisation of some of the ÖBAG’s former investments. Former investments were:

References
  1. "Imprint." Österreichische Beteiligungs AG. Retrieved on 21 August 2020.
  2. "Austria tightens hold over partly state-owned companies." Reuters. Retrieved on 26 April 2015.
  3. diepresse.com: Staatsunternehmen: Aus zahnloser Öbib wird mächtige ÖBAG (German). Article published on 26. October 2018, retrieved on 21 August 2020.
  4. APA-Pressemeldung published on 27. Juni 2016


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