Schoenherr has advised Rasperia Trading (“Rasperia”) on its exercise of a call option to purchase shares and increase its shareholding in STRABAG to a blocking minority of 25 percent and one share.
Rasperia, a company of Russia-based industrial conglomerate Basic Element, previously held 19.4 percent in the Vienna-based construction conglomerate. Basic Element is one of Russia's largest diversified business groups. Its companies are, according to Schoenherr, "controlled by or are within the scope of Oleg Deripaska's business interests."
Rasperia exercised the call option provided in a shareholder agreement that Rasperia/Basic Element and STRABAG’s other core shareholders (the Haselsteiner family and the Raiffeisen/UNIQA Group) reached in 2010, purchasing 6,377,144 STRABAG shares from the other core shareholders at a price of EUR 19.25 per share, or a total investment of around EUR 123 million.
The Schoenherr team advising Rasperia/Basic Element was led by Partner Christian Herbst, assisted by Partner Volker Weiss and attorney Maximilian Lang.