VERBUND sells shares in Gletscherbahnen Kaprun AG to Kapruner Tourismus Holding GmbH


VERBUND announces the sale of its share amounting to 45 percent in Gletscherbahnen Kaprun AG to the local consortium, Kapruner Tourismus Holding GmbH.

With the sale of the company’s share in Gletscherbahnen Kaprun AG (GBK), VERBUND is continuing to focus on its core business. "VERBUND is Austria’s leading electricity company and one of the largest producers of electricity from hydropower in Europe. This is where our key competence lies and it is upon this that we wish to concentrate. Accordingly, we are also following in our strategy of a clear streamlining of the company portfolio," said Wolfgang Anzengruber, VERBUND CEO, on the motive behind the sale of the shares.

VERBUND and Kaprun: A long-standing partnership
VERBUND and Gletscherbahnen Kaprun AG are united by a long-standing partnership. "We were cofounders of GBK and have always been a good partner to the people of Kaprun. We have contributed a great deal and have gone through good and bad times together," stressed Anzengruber. "It is for this reason that finding a sustainable solution was a central concern for us in the sale. We are convinced that the sale to Kapruner Tourismus Holding GmbH represents the best opportunity to safeguard a long-term and sustainable company development."

The contract was signed on 30 May 2012 – the purchase by Kapruner Tourismus Holding GmbH still requires antitrust approval by the competition authority. The purchase price is subject to a confidentiality agreement.