Raiffeisen says Strabag deal under careful risk assessment

By Jerry  Published On May 2, 2024
BERLIN, May 2 (Reuters) – Raiffeisen Bank International’s (RBI) (RBIV.VI), opens new tab acquisition of a stake in construction firm Strabag (STRV.VI), opens new tab linked to a Russian tycoon remains under careful assessment for any compliance risk, the biggest Western bank in Russia said on Thursday.
RBI wants to buy a stake in Strabag linked to Oleg Deripaska for 1.5 billion euros ($1.6 billion), a contested deal that has renewed international pressure on the Austrian lender.
Austrian authorities have urged RBI to drop the deal fearing a backlash from the United States, people familiar with the matter said, a blow to RBI’s plans to unlock funds stranded in Russia.
In recent weeks, Austrian central bank officials have warned RBI about the deal, cautioning it could backfire if the U.S. penalises the bank, said one person with direct knowledge of those discussions.
RBI is buying the stake in Vienna-based Strabag from a company the construction group identified as earlier controlled by Deripaska, opens new tab.
Source: REUTER

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