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Strabag to issue new shares to reduce sanctioned Russian businessman's stake

Published 02/10/2023, 07:32
Updated 02/10/2023, 07:37
© Reuters. Logo of the construction company Strabag is seen at a construction site in front of the Supreme Court in Warsaw, Poland September 13, 2018. REUTERS/Kacper Pempel/File Photo

(Reuters) - Strabag will issue around 15.6 million new shares in order to reduce a stake controlled by the sanctioned Russian businessman Oleg Deripaska, the Austrian construction group said on Monday.

According to Strabag, 87.6% of the shareholders, including core ones such as the Haselsteiner family, UNIQA and Raiffeisen, have voted for the share-based capital increase due in March 2024. This corresponds to 60.9% of the share capital

As a result, this will increase the company's share capital by 15.2% and reduce Deripaska's stake held via his holding company Rasperia Trading Limited to below 25%.

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