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RBI anticipates Strabag deal in the near future: “The faster, the better”


Apr 4, 2024

As a result of the Russian war against Ukraine, Raiffeisen Bank International (RBI) is working towards the goal of ceasing business operations in Russia. Progress has already been made, with payment transactions in Russia reduced to 2019 levels. To further decrease their involvement in Russia, RBI has announced a potential deal to acquire 24 percent of shares in the Austrian construction group Strabag through its Russian subsidiary for approximately 1.1 billion euros. This move would allow RBI to utilize profits frozen in the country, as 1.3 billion euros of their net profit last year came from Russia.

The shares of Strabag are currently held by MKAO Rasperia Trading Limited, previously owned by oligarch Oleg Deripaska and now owned by the Russian stock corporation Iliadis. While this change in ownership poses a delay in the sale, RBI is reviewing the transaction to ensure compliance with sanction regulations. Despite the uncertainty surrounding the deal, RBI remains in contact with relevant authorities and is optimistic about its potential.

During an RBI general meeting, Supervisory Board Chairman Erwin Hameseder highlighted the bank’s stability and resilience in the face of challenges. Capital resources have been strengthened, with a core capital ratio of 17.3 percent. The total distribution amounts to 411 million euros or 1.25 euros per share. Looking ahead, RBI intends to hold the Strabag shares for a significant period due to the perceived economic potential.

In addition to navigating business decisions related to Russia, individuals are exploring options in the real estate market. Topics such as cash offers, proof of funds, and digital real estate investments are gaining attention as buyers and sellers seek information and resources to make informed decisions. From understanding the implications of all-cash sales to the advantages of house selling apps, the real estate landscape continues to evolve with changing trends and market dynamics.

By editor

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