STRABAG SE Initiates Legal Action Over First Refusal Rights

STRABAG SE, in collaboration with its Austrian core shareholders, has filed a legal claim with a court of arbitration in Amsterdam. The claim concerns the rights of first refusal outlined in a 2007 syndicate agreement, focusing on the validity and triggering of these rights amid changes in control and the compliance with sanction regimes.

CEO Klemens Haselsteiner states that the goal is to distance the company from a sanctioned shareholder following the sale of Rasperia in Russia, which may represent a change of control. STRABAG has reduced the affected shareholdings below 25% and views this legal action as a means to separate itself from the risks posed by the shareholder's sanctions.

The court will determine if the right of first refusal persists post-termination of the syndicate agreement and if Rasperia’s sale to Iliadis necessitates a share transfer. A decision is expected by 2026, but several questions remain to be clarified in compliance with international sanctions.