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| Strabag shareholder Rasperia (Deripaska) wants to extend option Austrian construction giant Strabag shall continue to profit from the close cooperation with Basic Element, a company owned by Russian industrialist Oleg Deripaska. In order to allow Rasperia, the investment vehicle of Basic Element, to reacquire the 28.5 million Strabag shares, the original shareholders granted Rasperia a call option expiring on 18 December 2009, with a possible extension to 15 October 2010 in exchange for an option premium of € 45,867,000. The exercise price amounts to € 18 per share if the option is exercised in December 2009 and € 19.25 per share to 15 October 2010. Rasperia informed the core shareholders that it was making use of the option extension (such notification is foreseen in the contract). The option extension becomes legally effective if the option premium is paid on or before 18 December 2009. write your comments about the article :: © 2009 Construction News :: home page |