STRABAG SE: core shareholder Haselsteiner family foundation terminates syndicate agreement / no dividend for Russian company Rasperia
15 March 2022
- Haselsteiner Familien-Privatstiftung cancels syndicate agreement with Russian company Rasperia, UNIQA and Raiffeisen Group
The publicly listed construction group STRABAG SE was informed today by its core shareholder, Haselsteiner Familien-Privatstiftung (Haselsteiner Family Private Foundation), that it has terminated the syndicate agreement in place with the UNIQA and Raiffeisen Groups and Rasperia Trading Ltd. after all efforts to acquire the Russian shares have failed. The syndicate agreement had been in effect since 2007 and, in addition to the nomination of Supervisory Board members, also provided for the coordination of voting results at the General Meeting.
“The Management Board welcomes the step taken by our core shareholder, the Haselsteiner family foundation, to achieve clarity by terminating the syndicate agreement. On the part of the management, we are prepared to take all legally possible measures to avert any harm to the company. In view of the sanctions currently imposed by the UK and Canada, this refers in particular to the payment of dividends. As far as STRABAG’s Russian business is concerned – currently of subordinate importance with 0.3 % of the group’s output volume – the Management Board has decided to wind up the activities in that country,” explains Thomas Birtel, CEO of STRABAG SE.
In view of the enormous hardship of the Ukrainian population being impacted by the war, STRABAG SE has initiated and financed extensive aid measures, especially in the most affected group countries of Poland, the Czech Republic, Slovakia and Moldova. In accordance with the group’s code of values, the shareholders, Management Board and employees of STRABAG SE will proudly continue these initiatives in the future.
