Russian Rasperia Trading Limited liquidates its stake in Austrian STRABAG
The Russian company Rasperia Trading Limited intends to liquidate its stake in the Austrian construction company STRABAG and suspend investment activities in the EU. Rasperia has already held talks to sell its stake in STRABAG to a pool of investors from the Middle East, sources said.
Who exactly can become the new shareholders of STRABAG is not specified, but the deal could take place this week. After the completion of the deal, representatives of the Russian company will leave the board of directors of STRABAG. Rasperia owns a 27.8 percent stake in STRABAG according to open data.
STRABAG is one of the largest European engineering and construction companies. The work of the concern on the territory of the Russian Federation began in 1991. So far, STRABAG has regarded Russia as one of the main strategic markets for the company’s development. With the exit of Russian shareholders from the company, the Austrian concern will be forced to curtail its activities in Russia.