Deripaska expands Austrian involvement
Staff reporter · 16 Jul 2014, 12:27
Published: 16 Jul 2014 12:27 GMT+02:00
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Deripaska, who already held 19.4 percent of shares, has purchased additional shares worth about €123 million ($166m), and now holds a blocking minority of 25 percent plus one share.
In 2007, Deripaska already took over 30 percent of Austria's biggest and Europe's sixth-biggest building firm Strabag, but later sold out again except for a token share.
Strabag's turnover was already estimated several years ago at more than €12 billion. Its total staff is about 76,000.
It has been heavily involved in projects in Russia, including cooperation with firms controlled by Deripaska.
Deripaska had a practical monopoly in the Russian aluminium sector during the 2000's as owner of the world's number one company Rusal.
His industrial empire employs an estimated quarter of a million workers.
Strabag is an Austrian construction company, with its headquarters in Vienna.
Current stakeholders, alongside Rasperia Trading, are Hans Peter Haselsteiner's holding company with 25.5 percent, the Raiffeisen-Holding Niederösterreich-Wien group and Raiffeisen Group and UNIQA Group with 26.5 percent.
Thirteen percent of the company's shares represent free float, and ten percent of the shares are held by Strabag itself.