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30. 06. 10. - 16:00

Renaissance Group fails to up Porr stake

Porr AG bosses announced today (Weds) that shareholder Renaissance Group has not increased its interest.

The Turkish company let a call option pass which would have given it the chance to increase its stake to 11.52 per cent.

The decision means Renaissance Group’s interest in Austria’s second-biggest building firm will not rise above 10.22 per cent.

Porr and Renaissance Group started cooperating last year.

Porr boss Wolfgang Hesoun will leave the Vienna-based company later this year to take over from Brigitte Ederer as Siemens Austria chief.

Renaissance Group fails to up Porr stake

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