Strabag to buy-out German shareholders

08 May 2008

Austria-based Strabag SE has announced an offer to acquire the 33.4% it does not already own in German subsidiary Strabag AG. It is offering € 260 per share for a total of € 347 million by means of a voluntary public offer.

Shares in Strabag AG closed at € 244 on 6 May, the day before the offer was announced. The price of € 260 represents a 6,5% premium on this closing price, However, Strabag AG's shares traded as high as € 304 last summer, prior to the global credit crisis.

In other news, Strabag has acquired a small Swiss contractor, confusingly named StraBAG. The company employs 168 people and is active in the Zurich area. Last year it had sales of € 27,6 billion.

Latest News
IC100 2024: submit your entry now
Enter your information now to be ranked in the world’s top 100 crane companies
Nominations officially open for Power Progress Summit Awards
Enter to be recognized for achievements in engines and technologies, powertrains, alternative power and more
Peri completes ‘Europe’s largest’ 3D printed building
Peri highlighted that conventional construction methods could not have been used to achieve this design