Missing "approval"

Sale of Vamed core business delayed

(Bild: APA/JAKOB LANGWIESER)

There has been a delay in the purchase of the core business of the hospital operator and healthcare provider Vamed by the construction groups Strabag and Porr. Although negotiations are continuing, the parties involved are unable to specify a time frame. 

It was not clear from statements made by Strabag and Porr late on Tuesday afternoon how long this will take. "No comment," said a Porr spokesperson when asked about the duration of the delay. A Strabag spokesperson also only referred to the necessary further discussions.

The takeover of 90 million euros actually took place last May. It involves shares in several thermal spas in Austria (e.g. Vienna, Geinberg, St. Martins), the technical management of the Vienna General Hospital (AKH Vienna) and the Austrian Vamed project business.

Approvals missing for closing
"Following the expiry of the deadline for supplementary negotiations on the transaction for the acquisition of parts of the Vamed Group, the conditions for completion of the purchase agreement have not been fulfilled by the contractually agreed date," Strabag wrote in its press release. "In particular, the approval of the competent competition authority has not yet been obtained. The Strabag-Porr consortium has therefore entered into supplementary negotiations with the seller with regard to the purchase agreement."

The purchase agreement specifically includes VAMED-KMB Krankenhausmanagement und Betriebsführungsges.m.b.H. (VKMB) and VAMED Standortentwicklung und Engineering GmbH (VSG) with the business areas of AKH Vienna technical management and construction projects of AKH Vienna, the Austrian project development business and thermal spa investments in Austria.