Purchase price of 1 euro

Is the Kasberg takeover about to fall through?

The acquisition of Almtal Bergbahnen is in danger of falling through just before the finish line.(Bild: Wolfgang Spitzbart)

In February, state politicians were celebrated for saving the Kasberg; in May, the state government decided to allocate 1.1 million euros for emergency measures; now the takeover is on the verge of collapse. According to the “Lebenswertes Almtal” development cooperative, there are “no viable prospects for tourism.”

The planned takeover by Almtal Bergbahnen is in danger of failing right at the finish line! As the “Lebenswertes Almtal” development cooperative reports, talks regarding the acquisition of company shares by TTG (Traunsee Touristik GmbH, a wholly-owned subsidiary of OÖ Seilbahnholding) are on the verge of breaking down, as representatives of the State of Upper Austria are unwilling to guarantee the Almtal a viable tourism outlook in exchange for the transfer of operations. Karl Drack and Michael Stadler, the board members of the “Lebenswertes Almtal” promotional cooperative handling the matter, emphasize: “We are more than willing to transfer our shares in the company and the operation to the State of Upper Austria for a symbolic purchase price of 1.00 euro. In return, however, we expect a contractual provision that provides the Almtal with planning certainty even beyond next year’s state legislative election. As a minimum investment, the construction of a modern full-scale snowmaking system, as well as the maintenance of the group chairlift or the construction of a replacement lift, must be guaranteed. This would ensure the continuation of operations at least until the year 2040.”

On February 27, state political leaders declared the Kasberg saved—we now want this guarantee to be put in writing.

Karl Drack, Fördergenossenschaft lebenswertes Almtal

Bild: Andrea Kloimstein

Half a million already invested
Together with the “Kasberg Patrons”—a group of committed companies and private individuals from the region—a sum in the range of 500,000 euros has already been invested to secure the next ski seasons. On behalf of the remaining shareholders, the board members of the “Lebenswertes Almtal” support cooperative state: “The time for experimentation is over. We have made significant upfront investments for the future of the ski resort, including a motivated and newly trained team of employees for winter operations, purchased a new point-of-sale system and a Skidoo, cleared the paths for ski runs and lifts, and addressed the most urgent part of the investment backlog we inherited from the previous operators. We’re not interested in muddling through indefinitely just to get past the next election. On February 27, state political leaders declared the Kasberg saved—and now, as part of the transfer of our company shares, we want that guarantee put in writing.”

Some Negotiation Points Still Open
Negotiations are still taking place daily, and some points remain unresolved. Almtal Bergbahnen’s primary concern is a new snowmaking system—this is the only way to secure the ski resort’s future. “I believe we can make it happen. We’re at 98 percent agreement, and we’ll tackle the last two points as well,” says Fritz Drack, managing director of Almtal Bergbahnen, optimistically. And Almtal Bergbahnen’s attorney, Dr. Wolfgang Reiser, agrees: “We’ve been negotiating hard for several weeks; we’re confident we’ll resolve the remaining issues in the next few days.”

Not the current status
Markus Achleitner, State Minister of Economic Affairs, also speaks of constructive discussions. He shakes his head at the idea that the takeover might fail. “That does not reflect the current status. Our goal remains a sustainable solution for the Kasberg.”