May 28, 2022

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Another company withdrew from Russia.  Russian oligarchs didn't help

Another company withdrew from Russia. Russian oligarchs didn’t help

The decision to withdraw from operations in Russia was made by the main shareholder of Strabag SE, ie Haselsteiner Familien Privatstiftung.

The concerned Board of Directors welcomes the decision of the main shareholder – Haselsteiner Familien-Privatstiftung to create transparency by terminating the union agreement

– Reads excerpts from the company’s statement. The syndicate in question, apart from Strabag, was created by UNIQA Raiffeisen and Rasperia Trading Ltd. Earlier, the corporation, which was the largest shareholder, tried to acquire Russian shares, but, as it was emphasized, “all the efforts made failed.”

“The union agreement has been in effect since 2007, and apart from appointing members of the supervisory board, it also included the coordination of the results of voting during the general meeting” – explained in the statement and added that from the company’s point of view, the activity of Strabag concerns in Russia was marginal, because he was responsible Only about 0, 3 per cent of the entire production of the company.

How many Russian stocks are in Strabag?

On March 1, the company stated that the company’s Russian shareholder, i.e. MKAO Rasperia Trading Limited, owns only 27.8 percent. Its shares (the rest is in the hands of the Foundation and UNIWA Raiffeisen Group – editor). About 50 percent. Shares in Rasperia, in turn, are owned by Russia The oligarch Oleg Deripaskawhose assets were estimated in November 2021 at about $4.1 billion. Before the financial crisis of 2007-2008, he was the richest person in Russia – in 2021 he was 34th in the annual Forbes rating. Last Thursday was covered by British sanctions.

Strabag SE is an Austrian construction company headquartered in Spittal an der Drau, Austria, and headquartered in Vienna. It is the largest construction company in Austria and one of the largest construction companies in Europe. The company operates in its home markets of Austria and Germany as well as in all countries of Central, Eastern and Southeast Europe.

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