Strabag : Upstream merger squeeze-out of STRABAG AG, Cologne, approved
December 14, 2017 at 11:22 am EST
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14 December 2017 | STRABAG AG, Köln
Cologne Higher Regional Court rules in favour of STRABAG AG's petition to move ahead with upstream merger squeeze-out
Thomas Birtel, CEO of STRABAG SE, pleased with this 'necessary step for an efficient corporate structure'
Vienna, 14 December 2017---Ilbau Liegenschaftsverwaltung AG, Hoppegarten, a subsidiary of Vienna Stock Exchange-listed construction group STRABAG SE, has intended for some time to increase its stake in STRABAG AG, Cologne, to 100 %. The plan is to merge STRABAG AG into Ilbau and to acquire the 6.37 % free float share of STRABAG AG through an upstream merger squeeze-out of the minority shareholders. Minority shareholders had brought forward actions for rescission against the squeeze-out resolution passed by the Extraordinary General Meeting of STRABAG AG on 24 March 2017. But as the Management Board of STRABAG AG, Cologne, announced today, the upstream merger squeeze-out can now be brought under way despite the pending court actions, as the Higher Regional Court in Cologne has ruled in favour of STRABAG AG's petition to move ahead with the transaction.
The CEO of STRABAG SE, Thomas Birtel, welcomes this important step to simplifying the corporate structure: 'This is good news for STRABAG SE and good news for its shareholders. The delisting from the stock exchange of our almost untradable subsidiary will save not only administrative but also legal costs. After the acquisition of the minority interest in our subsidiary Ed. Züblin AG in April 2016, this squeeze-out is the second big step that was necessary for an efficient corporate structure.'
STRABAG AG, Cologne, will immediately push ahead with enforcement of the upstream merger squeeze-out through entry in the register.
STRABAG SEis a European-based technology group for construction services, a leader in innovation and financial strength. Our services span all areas of the construction industry and cover the entire construction value chain. We create added value for our clients by our specialised entities integrating the most diverse services and assuming responsibility for them. We bring together people, materials and machinery at the right place and at the right time in order to realise even complex construction projects - on schedule, of the highest quality and at the best price. The hard work and dedication of our close to 72,000 employees allow us to generate an annual output volume of about € 14 billion. At the same time, a dense network of numerous subsidiaries in many European countries and on other continents is helping to expand our area of operation far beyond the borders of Austria and Germany. More information is available atwww.strabag.com.
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Strabag SE published this content on 14 December 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 14 December 2017 16:21:01 UTC.
STRABAG SE is an Austria-based construction company, that specializes in construction & civil engineering, transportation infrastructure, tunneling, and offers construction-related services. The Company operates in three segments: The North + West segment covers the construction activities in Germany, Poland, Benelux and Scandinavia, as well as the ground engineering, hydraulic engineering and offshore wind activities; the South + East segment comprises the railway structures activities, as well as the construction activities in Austria, Switzerland, Hungary, Czech Republic, Slovakia, Adriatic, Rest of Europe and Russia and neighboring countries and environmental technology, and the International + Special Divisions segment includes tunneling, services, real estate development and infrastructure development, as well as the construction materials business. Its subsidiaries include, among others, DIW Instandhaltung Ltd & Co KG and DIW Deutsche Industriewartung AG.
STRABAG SE 
