€70 million investment at Iasi Airport can go ahead as planned as Russian oligarch Oleg Deripaska relinquishes shares in Strabag, the company that won the tender

Russian oligarch Oleg Deripaska, one of the richest men in Russia, with an estimated fortune of $3 billion, until recently held 27.8% of the shares in Strabag SE of Austria, the company that won the tender to build a terminal at Iasi Airport, Ziarul de Iasi reports.

The fact that it has given up its shares has made it possible to continue with the €70 million contract, announces Romeo Vatră, general manager of Iasi Airport.

„The management of the Austrian concern announced in mid-March the termination of an old agreement from 2007 with the Russian firm controlled by Oleg Deripaska and the other two major shareholders, Uniqa and Raiffeisen,” reports Ziarul de Iași.

Oleg Vladimirovich Deripaska, a close associate of President Putin, is on the list of Russian oligarchs placed under sanctions by the European Union, the US, the UK, Canada, and other countries.

The Russian billionaire held 27.8 percent of shares in Strabag SE (Austria) through a Cyprus-registered company he controlled, Rasperia Trading Ltd. The global construction services company condemned Russia’s attack on Ukraine immediately after the outbreak of war.

The termination of the contract by the holder of the largest stake, the private Haselsteiner foundation (28.3 percent), followed a failed attempt to buy back Deripaska’s shares through Rasperia. Strabag’s other major shareholders in the terminated agreement are insurance company Uniqa (15.3 percent) and the Raiffeisen group (14.2 percent), while 14.4 percent of the shares are freely traded on stock exchanges.

At the same time, Strabag withdrew from Russia – where only 0.3 percent of the group’s business was conducted – and announced that Rasperia would not receive dividends.

In Romania, Strabag SRL was founded in 1994. According to its latest published financial statements, in 2020 it had 1,072 employees, a turnover of 870 million lei, and a profit of more than 24 million.