Strabag鈥檚 head office in Vienna. (Photo: Strabag.)

Russian oligarch Oleg Deripaska is attempting to sell 100% of the shares he controls in Austrian construction company Strabag.

Strabag said it received notification today (19 December) that the Russian joint stock corporation Iliadis JSC concluded a purchase agreement for 100% of the shares in MKAO Rasperia Trading, which is controlled by Deripaska.

MKAO Rasperia Trading currently holds a 27.8% holding in Strabag, which has been frozen since Deripaska became subject to European Union sanctions, following Russia鈥檚 invasion of Ukraine last year.

Strabag had previously announced that it would attempt to reduce MKAO Rasperia鈥檚 shareholding down from 27.8% to 25%.

In a statement about the latest development, Strabag said that according to the shareholding notification, MKAO Rasperia would no longer be (indirectly) controlled by Deripaska once the transaction has been executed. However, it has not been executed yet.

Strabag said, 鈥淭he company has no further information regarding the transaction. It is therefore currently not possible to carry out a sanctions review, so that the company continues to follow the assumption that the Strabag shares held by MKAO Rasperia Trading Limited remain frozen in accordance with the EU Sanctions Regulation.鈥�