Core shareholders withdraw arbitration claim in Amsterdam
30 September 2025
In October 2024, the Austrian core shareholders of STRABAG SE, in close coordination with the company, filed a lawsuit against MKAO “Rasperia Trading Limited” (Rasperia) regarding the rights of first refusal under the former syndicate agreement.
In June 2025, Rasperia filed an application with the Kaliningrad Commercial Court seeking an injunction against STRABAG’s core shareholders and Raiffeisen Bank International AG (RBI). The motion sought to prohibit the initiation or continuation of legal proceedings against Rasperia outside the Russian Federation. A breach of this injunction would be fined with a lump-sum penalty of €1.09 billion, to be enforced – given the absence of STRABAG core shareholder assets in Russia – against RBI’s Russian subsidiary.
Against this background, the HPH Group – as well as the other core shareholders – has withdrawn the claim filed with the arbitral tribunal in Amsterdam.
Despite this decision, the STRABAG shares held by Rasperia remain frozen and all options regarding the Russian shareholder continue to be under review.
In June 2025, Rasperia filed an application with the Kaliningrad Commercial Court seeking an injunction against STRABAG’s core shareholders and Raiffeisen Bank International AG (RBI). The motion sought to prohibit the initiation or continuation of legal proceedings against Rasperia outside the Russian Federation. A breach of this injunction would be fined with a lump-sum penalty of €1.09 billion, to be enforced – given the absence of STRABAG core shareholder assets in Russia – against RBI’s Russian subsidiary.
Against this background, the HPH Group – as well as the other core shareholders – has withdrawn the claim filed with the arbitral tribunal in Amsterdam.
Despite this decision, the STRABAG shares held by Rasperia remain frozen and all options regarding the Russian shareholder continue to be under review.
