Oleg Deripaska's Basic Element Raises Stake in Strabag to Over 25 Percent

IndustrialsConstruction ♦ Published: July 16, 2014; 12:55 ♦ (Vindobona)

Russian oligarch Oleg Deripaska's option to increase his stake in Austrian construction group Strabag SE to 25 percent plus one share (a blocking minority stake) has been exercised.

Deripaska to get 25 % + 1 share in Strabag / Picture: © Wikipedia / Dzinko

Recently Austria's competition watchdog BWB said in a statement that Deripaska's Cypriot investment Company Rasperia Trading Ltd had notified it of its intention to buy a further 5.6 percent of publicly listed Strabag.

Deripaska had an option to boost his stake to 25% - a level he previously held - via purchases from other core shareholders: Raiffeisen Bank…