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| Basic Element increases share in Hochtief Russian industrial conglomerate Basic Element increased its share in Hochtief AG (Essen, Germany) to 9.99%. Hochtief is a renowned world leader in construction and construction-related services, as well as in reconstruction and airport management. Hochtief manages Dusseldorf Airport. The company also led the construction of airports at Athens, Warsaw and Jeddah, and is currently involved in reconstruction work at the Sheremetyevo Airport in Moscow. Early this May, Oleg Deripaska's Basic Element affiliate Rasperia Trading Limited became a shareholder in Hochtief, by purchasing 3 percent of the company's publicly traded shares. By mid-May, Rasperia Trading Limited bought an additional 6.99% of the shares. Today Rasperia Trading Limited owns just below 7 million shares, or 9.99% of Hochtief AG. write your comments about the article :: © 2007 Construction News :: home page |