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[20 August 2007]. Following approval by the cartel authorities in the EU, Russia and various other jurisdictions, Rasperia Trading Ltd, controlled by Russian industrialist Oleg V. Deripaska, is confirmed as new shareholder of STRABAG SE effective as of the closing of the transaction. The new shareholder’s 30% stake represents a 1.05-billion-euro increase in STRABAG SE’s equity. The proceeds from the capital increase will be invested in growth, in the raw materials sector and in the opening-up of new markets.
As a result of the new shareholder structure, Rasperia nominated two new members to the Supervisory Board of STRABAG SE. These were officially voted onto the Supervisory Board at an Extraordinary General Meeting: Magna co-CEO Siegfried Wolf and Gulzhan Moldazhanova, the CEO of Basic Element, joined the Supervisory Board of STRABAG SE effective 16 August 2007.
In relation to the acquisition of its stake in STRABAG SE, Rasperia has filed an application with the German financial regulatory authority Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) to exempt it from having to make a compulsory offer for the acquisition of shares of STRABAG AG, Cologne as required by the German Wertpapiererwerbs- und übernahmegesetz (WpÜG) (‘Securities Acquisition and Takeover Act’).
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STRABAG SE is one of Europe's leading construction groups. With about 59,000 employees, STRABAG expects to post revenue of around EUR 11 billion in the ongoing financial year. From its core markets 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 the Arabian Peninsula, as well as in Canada, Chile and India. STRABAG's activities span the entire construction industry (Building Construction and Civil Engineering, Road Construction, Services) and cover the entire value-added chain in the field of construction. More information is available at www.strabag.com
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