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| Basic Element exercises call option for 17 percent stake in Strabag Rasperia Trading Ltd., a part of Basic Element diversified industrial group, informed Strabag SE, that it exercised the call option for 17% stake in Strabag SE, Central and Eastern Europe's construction market leader, on 30 November 2010. In compliance with the agreement signed earlier with STRABAG's core shareholders - Haselsteiner Group and Raiffeisen/UNIQA Group, Rasperia repurchased 19,380,000 shares of the Austrian company for € 373,065,000, or € 19.25 per share. With the 17% stake Rasperia remains a full-fledged member of the syndicate on the basis of the existing shareholder agreement with Haselsteiner Group and Raiffeisen/UNIQA Group. Furthermore, the members of the syndicate agreed to provide Rasperia with an extension of the call option for the remaining 8 % until 15 July 2014 (the initial option covered 25 %). write your comments about the article :: © 2010 Construction News :: home page |