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Strabag cuts ties with Russian company Rasperia

    Paolo Kerguel
    By Paolo Kerguel Replies (2)

     

    Austrian construction giant Strabag cuts its ties with the Russian company Rasperia. The move comes after much pressure by the British authorities it seems. Strabag is a contractor by UK's HS2 mega-project.

    Rasperia, owned by oligarch Oleg Deripaska controlled 28% of Strabag.

    Strabag press release reads:

    STRABAG SE: core shareholder Haselsteiner family foundation terminates syndicate agreement / no dividend for Russian company Rasperia

     
    • Haselsteiner Familien-Privatstiftung cancels syndicate agreement with Russian company Rasperia, UNIQA and Raiffeisen GVienna, 15 March 2022 The publicly listed construction group STRABAG SE was informed today by its core shareholder, Haselsteiner Familien-Privatstiftung (Haselsteiner Family Private Foundation), that it has terminated the syndicate agreement in place with the UNIQA and Raiffeisen Groups and Rasperia Trading Ltd. after all efforts to acquire the Russian shares have failed. The syndicate agreement had been in effect since 2007 and, in addition to the nomination of Supervisory Board members, also provided for the coordination of voting results at the General Meeting.

      “The Management Board welcomes the step taken by our core shareholder, the Haselsteiner family foundation, to achieve clarity by terminating the syndicate agreement. On the part of the management, we are prepared to take all legally possible measures to avert any harm to the company. In view of the sanctions currently imposed by the UK and Canada, this refers in particular to the payment of dividends. As far as STRABAG’s Russian business is concerned – currently of subordinate importance with 0.3 % of the group’s output volume – the Management Board has decided to wind up the activities in that country,” explains Thomas Birtel, CEO of STRABAG SE.

      In view of the enormous hardship of the Ukrainian population being impacted by the war, STRABAG SE has initiated and financed extensive aid measures, especially in the most affected group countries of Poland, the Czech Republic, Slovakia and Moldova. In accordance with the group’s code of values, the shareholders, Management Board and employees of STRABAG SE will proudly continue these initiatives in the future.
       

      STRABAG SE is a European-based technology group for construction services, a leader in innovation and financial strength. Our services span all areas of the construction industry and cover the entire construction value chain. We create added value for our clients by our specialised entities integrating the most diverse services and assuming responsibility for them. We bring together people, materials and machinery at the right place and at the right time in order to realise even complex construction projects – on schedule, of the highest quality and at the best price. The hard work and dedication of our approx. 75,000 employees allow us to generate an annual output volume of around € 16 billion. At the same time, a dense network of numerous subsidiaries in many European countries and on other continents is helping to expand our area of operation far beyond the borders of Austria and Germany. More information is available at http://www.strabag.com.

      https://www.strabag.com/databases/internet/_public/content.nsf/web/SE-PRESSE.COM-PRESSEMITTEILUNGEN-2022-STRABAG%20SE:%20Kernaktion%C3%A4rin%20Haselsteiner%20Familien-Privatstiftung%20k%C3%BCndigt%20Syndikatsvertrag%20-%20keine%20Dividende%20f%C3%BCr%20russische%20Rasperia#?men1=6&men2=1&sid=1625&h=7&l=EN

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