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Strabag boosts stake in GYSEV through capital raise

Austrian construction company Strabag has raised capital in regional railway GYSEV by about HUF 89 million, raising its stake in the company to 6.2%.

Strabag acquired a 5.7% stake in GYSEV from a unit of Rail Cargo Austria (RCA) in the summer. RCA parted with the stake as a condition for approval of its acquisition of MÁV Cargo, the freight unit of Hungary's national railway company MÁV.

The State of Hungary owns 65.6% of GYSEV and the state of Austria holds 28.2%. (MTI-ECONEWS)