RBI aims for Strabag deal soon: “Sooner is better”

The Russian war against Ukraine has prompted Raiffeisen Bank International (RBI) to end its business operations in Russia. As a result, payment transactions in the country have been reduced to the volume of 2019. In an effort to further reduce its involvement in Russia, RBI is considering acquiring 24 percent of the shares in Austrian construction group Strabag through its Russian subsidiary for around 1.1 billion euros.

However, complications may arise as the shares in Strabag are currently held by MKAO Rasperia Trading Limited, originally owned by Oleg Deripaska, who is on both EU and USA sanctions lists. The shares were recently sold to the Russian stock corporation Iliadis, raising concerns about compliance with sanction regulations. RBI is currently investigating the transaction and will only proceed with the deal if all requirements are met.

Despite these challenges, Erwin Hameseder, Chairman of RBI’s Supervisory Board, highlighted the bank’s stability and resilience over the past year. The bank’s capital resources have been strengthened, with a core capital ratio of 17.3 percent. Various topics related to selling houses for cash and real estate investment were also discussed in the content provided.

By Aiden Johnson

As a content writer at newspoip.com, I have a passion for crafting engaging and informative articles that captivate readers. With a keen eye for detail and a knack for storytelling, I strive to deliver content that not only informs but also entertains. My goal is to create compelling narratives that resonate with our audience and keep them coming back for more. Whether I'm delving into the latest news topics or exploring in-depth features, I am dedicated to producing high-quality content that informs, inspires, and sparks curiosity.

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