Deripaska applies to be freed of mandatory offer for German Strabag unit |
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Tue, 21 Aug 2007 08:32
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FRANKFURT (Thomson Financial) - Russian billionaire Oleg Deripaska has filed an application with German financial regulator BaFin asking to be freed from making a mandatory bid for Cologne-based construction company Strabag AG, Financial Times Deutschland reported, citing a company spokesman.Earlier this year Deripaska's Rasperia Trading acquired about 30 pct in Austrian Strabag SE, which holds a majority in the German construction company of the same name.Therefore, Deripaska is obliged to make a mandatory bid to Strabag AG's minority shareholders, which could cost about 340 mln eur on the basis of the current share price, according to the report.judith.csaba@thomson.comjcs/rwCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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