Austrian beer barons against impeachment of illicit share transactions
April 11th, 2007 in Austrian Stock Exchange
This weeks Thursday is the day of the start of the brewing trial. Impeachment: illicit transactions in shares.
16 former Austrian Beer Brew Public Limited Company and Austrian Brau Union shareholders have to show up on the court of the Viennese district court.
Among the defendants also former chairman Karl Büche as well as Ludwig Beurle and Fritz Kretz, who were informed about all details of the deal as representatives of the biggest shareholders group in the proprietor syndicate.
The impeachment accuses them they have obtained insider informations about the sale of the Austrian Beer Brew Public Limited Company shares between November 2002 and April 2003. The property gain should amount 5,2 mio EUR.
Finally the takeover of the Heiniken group brought 1,9 billion EUR.
The list of defending lawyers is long and impressive. All defending lawyers think that the statement of facts is not present. “If there were insider informations, it was not possible to value them as specific enough, to accomplish the statement of facts”, says one defending lawyer.
- link: Austrian Beer
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