Austria's Raiffeisen backs out of pursuing Strabag deal-March 2024-www.financetom.com

Austria's Raiffeisen backs out of pursuing Strabag deal

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Austria's Raiffeisen backs out of pursuing Strabag deal

May 8, 2024 5:00 AM

(Reuters) - Austrian lender Raiffeisen Bank has decided not to pursue the acquisition of a stake in construction group Strabag, it said in a statement on Wednesday.

"In recent exchanges with the relevant authorities, RBI has been unable to obtain the required comfort in order to proceed with the proposed transaction," the Vienna-based bank wrote.

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