VENTURE CAPITAL POST

Austria's OMV will divest its 45% stake in German oil refinery Bayernoil to Varo Energy for an undisclosed amount. Varo Energy is a partnership between Swiss oil trading firm Vitol and American private equity firm Carlyle Group.

The stock of India-based Mahindra Holidays rose 5% after the company announced it had sold all its shares in two hotel firms in Austria for an undisclosed sum.

CEPT Systems GmbH, a Vienna, Austria-based text processing technology startup raises a total of EUR 1.5 million in seed funding. Backers of this round includes Reventon B.V and Zirngast GmbH (AT).

Telekom Austria, Deutsche Telekom and Hutchison Whampoa's Three have cornered the majority of the LTE spectrum in the region.

Raiffeisen Bank International had been drubbed by bad debts in its Eastern European business as well as insolvencies and restructuring in its home country of Austria.

Austrian insurer Uniqa said it would selling its private equity fund portfolio worth EUR 400 million to various investors.

Acer's president told Austria's Format magazine that the company would recover and make profit again.

Raiffeisen Bank International explores cost-cutting measures to raise Eur 1.8 billion.

Dayli, an Austrian drug store chain acknowledged that its neighborhood stores concept is not effective, and therefore filed for a restructuring on Thursday.

Toshiba Corp. bought 76% stake in CyberGRID GmbH after its acquisition of Landis+Gyr in 2011 and Consert Inc. in February this year.

Maria Fekter, Austria's Finance Minister was confident about getting the deal from EU after some negotiation.

Raffeisen Zentralbank agrees to acquire loan assets from Volksbanken AG as part of the bailout plan.

The Austrian construction group Alpine Bau claims insolvency, and stands to be the largest ever in Austrian history.