Support The Moscow Times!

BasEl Plans Cash for Strabag

Billionaire Oleg Deripaska plans to pay, not use asset swaps, to regain 25 percent of Strabag through an option this year, after ceding the stake in the Austrian builder over debt in 2009, his spokesman said Tuesday.

“We plan to exercise the option in accordance with previously reached agreements with our partners,” said Sergei Babichenko, a spokesman for Deripaska’s Basic Element holding. “We’re talking about money.”

Babichenko said reports in Austrian and Russian media that Deripaska may swap stakes in Russian construction assets to exercise the option for Strabag shares are “incorrect.”

(Bloomberg)


… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue

Read more