Basic Element
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21 May 2007 г. | 13:40
Basic Element Increases Its Share in Hochtief
Basic Element increased its share in Hochtief AG (Essen, Germany) to 9.99%, reports press-center of Basic Element.
Early this May, Basic Element affiliate Rasperia Trading Limited became a shareholder in Hochtief, by purchasing 3 percent of the company’s publicly traded shares. By mid-May, Rasperia Trading Limited bought an additional 6.99% of the shares. Today Rasperia Trading Limited owns just below 7 million shares, or 9.99% of Hochtief AG.
Hochtief is a renowned world leader in construction and construction-related services, as well as in reconstruction and airport management. Hochtief manages Dusseldorf Airport. The company also led the construction of airports at Athens, Warsaw and Jeddah, and is currently involved in reconstruction work at the Sheremetyevo Airport in Moscow.
This spring Basic Element announced its first major investment in a foreign infrastructure development company. At the end of April Basic Element acquired a 30% stake in STRABAG SE (Vienna), a leading European company renowned for its road and tunnel construction.
The company is confident that cooperation with foreign partners will enable them to increase their presence in the fast-growing Russian market, and will also give Basic Element access to new, world-class technology.
Commerzbank and Goldman Sachs represented Basic Element and Rasperia Trading Limited in the deal, and Gleiss Lutz provided legal advice.
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