Strabag sells joint venture share to Sberbank

Industrials › Construction ♦ Published: August 23, 2010; 20:04 ♦ (Vindobona)

Strabag sold its 49 percent share of the housing-development joint venture to the Russian Sberbank.

Strabag sells joint venture share to Sberbank / Picture: © Strabag SE

So far, no projects were funded. The deal should be completed this year.

The Austrian construction company Strabag sold its 49 percent stake in the joint venture founded in 2007 with Deutsche Bank, DB Development, to Sberbank.

The joint venture was established for the realization of infrastructure and property projects in Russia and the Commonwealth of Independent States…

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