RBI finds a way to move some of its assets out of Russia

Raiffeisen said its Russian unit agreed to buy an almost 28% stake in Austrian builder Strabag SE that was until recently held by sanctioned businessman Oleg Deripaska. — Bloomberg

VIENNA: Raiffeisen Bank International (RBI) AG says it may finally have a way to move some of its assets out of Russia. What it hasn’t explained is why the complex, €1.5bil (US$1.7bil) string of transactions ended up with an executive who has a long history working for companies of a now-sanctioned tycoon.

Raiffeisen said yesterday that its Russian unit agreed to buy an almost 28% stake in Austrian builder Strabag SE that was until recently held by sanctioned businessman Oleg Deripaska.