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Herbst Kinsky Advises Uniqa on Syndicate Agreement with Haselsteiner Group and Mandatory Tender Offer for Strabag Shares

Herbst Kinsky Advises Uniqa on Syndicate Agreement with Haselsteiner Group and Mandatory Tender Offer for Strabag Shares

Austria
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Herbst Kinsky has advised the Uniqa Insurance Group on a syndicate agreement with Raiffeisen Holding Lower Austria-Vienna, Haselsteiner Privatstiftung, and Hans-Peter and Klemens Haselsteiner for maintaining the existing controlling interest in Strabag.

"The syndicate partner Uniqa, together with the other syndicate partners as bidders, has made a public mandatory tender offer to acquire outstanding no-par value shares in Strabag at an offer price of EUR 38.94 per Strabag share," Herbst Kinsky informed. "The offer price corresponds to the minimum price pursuant to the Takeover Act, whereby Strabag will acquire up to 10% as treasury shares. The bidders will acquire these shares in the course of the offer in trust for Strabag."

Strabag is an Austrian construction company. 

"Due to the sanctions regime under European law, the offer will not be addressed to the 28,500,001 Strabag shares held by Rasperia Trading Limited, indirectly controlled by Oleg Deripaska," the firm added. "As a result of the EU sanctions, which also affect Oleg Deripaska, complex legal questions arose in the areas of the takeover, share, stock exchange, banking, insurance supervision, merger, and sanctions law."

The Herbst Kinsky team was led by Partners Philipp Kinsky and Wolfgang Schwackhoefer and included Associates Carmen Walser, Angelika Kurz, and Leopold Gottsauner-Wolf.

Herbst Kinsky did not respond to our inquiry on the matter.

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