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Austrian regional bank boosts stake in AMAG
March 20, 2012 / 1:37 PM / in 6 years

Austrian regional bank boosts stake in AMAG

VIENNA, March 20 (Reuters) - Raiffeisenlandesbank Oberoesterreich has increased its voting stake in Austrian aluminium group AMAG to 16.4 percent by acquiring an extra 4.7 percent stake.

The regional bank signed an agreement on March 19 to acquire the extra shares, AMAG said on Tuesday.

The move had been expected as main owner CP Group 3, a joint venture between One Equity Partner and Constantia Packaging, divests its AMAG stake.

B&C Industrieholding, which owns Austrian cellulose fibres group Lenzing, is buying a 29.9 percent stake in AMAG from OEP, an affiliate of JPMorgan Chase. (Reporting by Michael Shields; Editing by Dan Lalor)

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