Karlheinz Essl sells majority of his art collection

Karlheinz Essl. The works of art have been incorporated into the newly founded SE collection of the Essl GmbH. The family foundation of the former head of the Strabag construction group, Hans Peter Haselsteiner, has a 60 per cent share in this corporation. The Essl family foundation still holds 40 per cent. Speculation is rife in the Austrian press about a buying figure in the region of € 100 mio that could be used for the restructuring of Baumax. In order to recapitalise, 44 works of art mostly from non-Austrian artists, will be auctioned at Christie’s in London on 13 October, the museum announced. The artistic administration will remain in the hands of the husband and wife art collectors, Agnes and Karlheinz Essl.