Uniqa insurer intends to sell its stakes in Strabag

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Uniqa insurer intends to sell its stakes in Strabag
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Uniqa, an Austrian insurance company, intends to sell its stake of 14% in Strabag construction concern fully or partly, Bloomberg reports, citing Chairman of the company’s Management Board, Andreas Brandstetter. He made this statement at a shareholder meeting.

According to Andreas Brandstetter, the company might retain a part of its stakes in Strabag, however, it is ready sell all shares of that construction concern.

Uniqa CEO explained that Strabag was a good company, but 14% of its stake is a risk for Uniqa.

Strabag, an Austrian construction concern, was established in 1835. In 2015 its revenue totaled 13,1 billion euro.

Apart from Uniqa, the list of Strabag SE major shareholders includes Haselsteiner Group of Companies (25,5% shares), Raiffeisen-Holding Niederösterreich-Wien (12,7%), as well as Rasperia Trading Limited (25,0% plus 1 share) owned by Russian oligarch Oleg Deripaska.