Oleg Deripaska, on the photo, has acquired 30 percent in Strabag construction consortium of Australia, paying ˆ1.2 billion for the assets.
Photo: Pavel Smertin
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Deripaska Buys 30 Percent in Austrian Strabag Constructor
Oleg Deripaska has acquired 30 percent in Strabag construction consortium of Austria, paying ˆ1.2 billion for the assets. According to analysts, Deripaska needs contractors to build over 4 million sq meters of real estate in the land that belongs to him.
Strabag will increase stock capital by releasing 25 million new stocks. In the next move, Deripaska’s Rasperia Trading will buy out the stocks at ˆ42 each, news services of Russia’s Bazovy Element (Basic Element) and Austrian Uniqa Versicherungen AG, which is Strabag’s co-owner, reported yesterday.
Deripaska will get a stake in Uniqa as well, as 18 percent in the latter will go to Strabag after it releases new stocks. As a result, Deripaska will control 30 percent in Strabag, paying ˆ1.2 billion for it on aggregate.
More details will be given in time of official news conference that is to be held in Vienna today.
The analysts say Russia lacks construction facilities, and Deripaska needs contractors to build over 4 million sq meters of real estate in the land that belongs to him. Besides, Strabag that is building Moskva (Moscow) Hotel and Moscow City Business Center in Russia operates in the better part of Europe, in Canada, Chile and China. So, the path to foreign developer’s projects will be much smoother for oligarch after the deal.
www.kommersant.com
All the Article in Russian as of Apr. 26, 2007
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