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| Strabag becomes the 100% owner of highway concession Austrian construction company Strabag SE decided to acquire 100 % of the M5 highway license in Hungary. The M5 motorway is being operated by the licensing company AKA (Alföld Koncessziós Autópálya Zrt). In the beginning of the year the Hungarian government sold its 39.48 % share in AKA in the course of a bidding process to "Raiffeisen PPP Infrastruktur Beteiligungs GmbH". Subsequently, "Raiffeisen PPP" acquired the shares of the remaining shareholders through a call option. Strabag's share in the licensing company AKA amounted to around 25% so far. Strabag will acquire the holding company of AKA from "Raiffeisen PPP Infrastruktur Beteiligungs GmbH", thus, becoming the 100% owner of AKA. The concession will expire in 2031. The total volume of this transaction amounts to € 257 million. write your comments about the article :: © 2008 Construction News :: home page |