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Middle Eastern investors to buy Russian stake in STRABAG

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MKAO Rasperia Trading plans to divest its stake in Austrian construction giant STRABAG, and to stop its investment activities in Europe. Rasperia has already held negotiations on selling its stake in STRABAG with a pool of investors from the Middle East, according to people familiar with the situation. It is still unclear who the new shareholders will be, but the deal could be closed as early as this week.

The Russian company’s representatives will step down from STRABAG’s Supervisory Board once the transaction is completed. According to public records Rasperia currently holds a 27.8% stake in STRABAG.

STRABAG is one of Europe’s largest construction companies. The company entered the Russian market in 1991 and had considered Russia as one of its core strategic growth markets. Following Rasperia’s divestiture STRABAG will also cease its operations in Russia.

Source: https://lenta.ru/news/2022/03/15/strabag/

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