February 27, 2020 / 6:30 PM / a month ago

CA Immo sues Republic of Austria and Carinthia province for 1.9 bln euros

VIENNA, Feb 27 (Reuters) - Property group CA Immo said on Thursday it would sue the Republic of Austria and the province of Carinthia for damages of 1.9 billion euros ($2.1 billion) in connection with the privatization of federal residential property companies in 2004.

The Austrian group said it was severely damaged by unlawful and culpably biased influence on the best bidder procedure.

“In order to assert the damage sustained, the company will first bring a partial action for an initial sum of 1 million euros out of the total damage of 1.9 billion euros,” CA Immo said. ($1 = 0.9201 euros) (Reporting by Kirsti Knolle Editing by Chris Reese)

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