STRABAG presents new, third core shareholder
Vienna, Austria – Dr. Hans Peter Haselsteiner, CEO of the Vienna-based STRABAG SE, 2007-04-25 revealed the new, third strategic core shareholder of STRABAG SE to be Basic Element, a Russian conglomerate owned by Mr. Oleg V. Deripaska.
The shareholders of STRABAG SE have agreed to give Basic Element 30% of the group’s share capital. For this purpose, the share capital of STRABAG SE will be increased by 25 million shares from 70 to 95 million. To a lesser degree, the existing STRABAG SE shareholders will also sell shares from their own holdings to Basic Element.
The capital increase will boost the share capital of STRABAG SE by around EUR 1.05 billion.
The transaction is still pending approval by the relevant cartel authorities.
This decision represents a third milestone in STRABAG’s recent developments, Dr. Haselsteiner said today in Vienna. Following the acquisition of the German STRABAG AG in 1998 and the purchase of parts of the insolvent Walter Bau Group, the entry of a new core shareholder marks a further significant step in STRABAG’s strategic orientation. The market for infrastructure projects in Russia is growing by around 20% p.a., in particular in those areas in which STRABAG has its strengths: bridges, roads and tunnels. Working together with Basic Element’s construction division, STRABAG will be able to accelerate its expansion on the Russian market.
STRABAG SE is one of Europe’s leading construction groups. With nearly 53,000 employees, STRABAG expects to post revenue of around EUR 10 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 China. 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
About Basic Element
Basic Element is a diversified holding company (Sibirsky Aluminium Group until 2001) founded in 1997 with assets in Russia and abroad. Basic Element’s core assets are in 6 sectors – Energy, Machinery, Resources, Financial Services, Construction and Development.
The consolidated revenue of the Group’s portfolio businesses amounts to over $18 billion (2006). Its combined asset value exceeds $23 billion. The Group employs 240,000 people. Enterprises of the Basic Element Group are located in Russia and in countries of the CIS, Europe, Africa, Latin America and Australia.