Schoenherr has advised Rasperia Trading on its exercise of a call option to purchase shares and increase its shareholding in Vienna Stock Exchange-listed STRABAG SE to a blocking minority of 25 per cent and one share.
Rasperia, a company of Russia-based industrial conglomerate Basic Element, previously held 19.4 per cent in the Vienna-based construction conglomerate.
Based on a shareholder agreement that Rasperia/Basic Element and STRABAG’s other core shareholders (the Haselsteiner family and the Raiffeisen/UNIQA Group) had reached in 2010, Rasperia exercised a call option to purchase 6,377,144 STRABAG shares from the other core shareholders at a price of €19.25 (£15.21) per share, or a total investment of around €123m.
Basic Element is one of Russia’s largest diversified business groups. Its companies are controlled by or are within the scope of Oleg Deripaska’s business interests.
The Schoenherr team advising Rasperia/Basic Element was led by Christian Herbst (partner, corporate/M&A) and further consisted of Volker Weiss (partner, EU and competition) and Maximilian Lang (attorney, corporate/M&A).