Russian billionaire Oleg Deripaska’s Moscow-based Basic Element Group has acquired 17% of Austria’s Strabag SE, Vienna, which is ranked third on ENR’s list of the Top International Contractors. The $490-million acquisition was made through Basic Element’s Rasperia Trading Ltd.
The acquisition follows Strabag’s announcement last month of its planned expansion in Russia by buying 26% of Basic Element’s Moscow-based road construction company, Transstroy, for $92 million. Transstroy reported $1.2 billion in sales last year.