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Strabag Plummets After CEO Says Company May Delist: Vienna Mover

Aug. 28 (Bloomberg) -- Strabag SE fell to the lowest level in almost two years after Chief Executive Officer Hans-Peter Haselsteiner said that central Europe’s biggest construction company may delist in 2014.

Shares declined 1.7 percent to 17.2 euros at the 5:30 p.m. close of trading in Vienna, the lowest close since September 2010 and the biggest retreat since Aug. 21.

“The shareholders haven’t reached a decision on delisting,” Haselsteiner told WirtschaftsBlatt newspaper in today’s issue. “This is a question of how low the share price actually falls. Because at some point it is uninteresting.”

Haselsteiner, whose family trust owns 29.2 percent of Strabag, is retiring in 2014 and the company could delist after that, he said in the WirtschaftsBlatt interview. About 14 percent of shares are in free float, with Haselsteiner, Raiffeisen, Uniqa and Russian billionaire Oleg Deripaska owning the rest, according to a graph on Strabag’s website dated July 18.

Strabag share sold at 47 euros a piece at its October 2007 IPO.

To contact the editor responsible for this story: Zoe Schneeweiss at zschneeweiss@bloomberg.net

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