Russian billionaire expands operations in Romania

Russian billionaire expands operations in Romania

Austrian constructions company Strabag sold 30 percent of its shares to Russian billionaire Oleg Deripaska, the second richest person in Russia, for EUR 1.2 billion. Deripaska is therefore expanding operations in Romania, after taking over Oradea-based aluminum producer Alor, with business in the construction and hospitality industry Additionally, the Russian businessman submitted a takeover bid for the Automobile Craiova plant last week, through JSC Russian Machines. At the beginning of this year, the Austrians also purchased construction company Antrepriza Reparatii si Lucrari ARL Cluj, owned by the Ministry of Transport, for EUR 5.2 million and own some 40 percent in Cluj-based Grandemar, which is specialized in extracting construction stone.