Following public purchase offer, STRABAG SE now holds 87.72 % of STRABAG AG, Cologne
STRABAG SE sees bid as a success
STRABAG SE, the largest construction group in Central and Eastern Europe, now holds 87.72 % of its publicly traded German subsidiary STRABAG AG, Cologne.
By the deadline for acceptance on 22 July 2008, the voluntary public purchase offer issued by STRABAG SE on 17 June had been accepted for 851,679 shares of STRABAG AG, Cologne, corresponding to approx. 21.13 % of the share capital and voting rights of STRABAG AG.
Hans Peter Haselsteiner, CEO of STRABAG SE, sees this as a success: “The fact that so many shareholders offered us their shares in STRABAG AG tells me that our bid was fair and that the assessment of the company’s share price at € 260 was right.”
Today, Monday, STRABAG SE will complete the takeover and pay roughly € 221 million for the offered shares.
STRABAG SE is one of Europe’s leading construction groups. With about 63,000 employees, STRABAG expects to generate a construction output volume of € 12.4 billion in the 2008 financial year. 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’s activities span the entire construction industry (Building Construction and Civil Engineering, Transportation Infrastructures, Tunnelling) and cover the entire value-added chain in the field of construction. More information is available at www.strabag.com