2023-09-11 18:37:00
In order to reduce the shareholding of the company controlled by the sanctioned oligarch Oleg Deripaska from 27.8 percent to less than 25 percent, the first part of the necessary capital measures has now been entered in the commercial register, Austria’s largest construction group announced yesterday.
The share is to be diluted in several steps: The core is that free reserves are distributed to the existing shareholders, who now have the choice between a stock option and a cash option. According to Strabag, Deripaska does not own this choice because his participation is frozen due to EU sanctions. 11.7 percent of the shares are in free float.
According to its own statements, Strabag wants to reduce risks and disadvantages for its business activities. Deripaska, who has been involved in Strabag since 2007, was placed on the sanctions list and his assets frozen following the outbreak of war in Ukraine. He is considered a confidant of President Vladimir Putin.
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