It Is Official: Deripaska Is Back at Strabag
Basic Element group exercises the call option for 17 percent stake in Strabag.
Rasperia Trading Ltd., a part of Basic Element diversified industrial group owned by the Russian investor Oleg Deripaska, informed Strabag SE, that it exercised the call option for 17% stake in Strabag SE, Central and Eastern Europe’s construction market leader, on 30 November 2010. In compliance with the agreement signed earlier with Strabag core shareholders - Haselsteiner Group and Raiffeisen/UNIQA Group, Rasperia repurchased 19,380,000 shares of the Austrian company for € 373,065,000, or € 19.25 per share.
With the 17% stake Rasperia remains a full-fledged member of the syndicate on the basis of the existing shareholder agreement with Haselsteiner Group and Raiffeisen/UNIQA Group. Furthermore, the members of the syndicate agreed to provide Rasperia with an extension of the call option for the remaining 8% until 15 July 2014 (the initial option covered 25%).
Strabag SE is one of Europe’s leading construction groups. With some 75,500 employees, Strabag generated a construction output volume of € 13.0bn in the 2009 financial year. As a result, Strabag is listed in the Fortune Global 500 list as one the largest companies worldwide. From its core markets of Austria and Germany, Strabag is present via its numerous subsidiaries in all countries of Eastern and South-East Europe, in selected markets in Western Europe and on the Arabian Peninsula. Strabag activities span the entire construction industry (Building Construction and Civil Engineering, Transportation Infrastructures, Special Foundation Engineering and Tunnelling) and cover the entire value-added chain in the field of construction.
Basic Element is Russia's leading diversified investment company striving to conduct business in Russia and around the world in an effective and responsible manner. Basic Element's main assets are concentrated in five economic sectors – Energy, Manufacturing, Construction, Financial Services and Aviation. Basic Element through its affiliates owns significant stakes in and operates dozens of companies. Many of them play key roles in their respective market segments in Russia and internationally, including UC RUSAL, GAZ Group, Transstroy, EuroSibEnergo and Ingosstrakh.