EANS-News: Final agreement between Strabag consortium and Autostrada Pedemontana Lombarda

Corporate news transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is responsible for the content of this announcement.

Company Information

Vienna/Milan - STRABAG AG, as the contractor's consortium leader, and Autostrada Pedemontana Lombarda S.p.A. announce that their principal agreement reached in April 2019 has now legally come into effect. A legal dispute in connection with the Pedemontana Motorway Project in northern Italy, which involves a consortium led by Austria's STRABAG AG, had led the client to issue a demand under a guarantee in March 2018. The consortium deemed this to be unjustified. The present settlement agreement not only puts an end to the proceedings concerning the demand under the guarantee (from which STRABAG AG has already been released), it also concludes the pending legal disputes related to construction delays and any associated and considerable cost overruns.

end of announcement euro adhoc

Attachments with Announcement:
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http://resources.euroadhoc.com/documents/2246/5/10354595/1/STRABAG_SE_Pressemitteilung_Pedemontana_FINAL_Sept2019_E.pdf

issuer: STRABAG SE
Donau-City-Straße 9
A-1220 Wien
phone: +43 1 22422 -0
FAX: +43 1 22422 - 1177
mail: investor.relations@strabag.com
WWW: www.strabag.com
ISIN: AT000000STR1, AT0000A05HY9
indexes: SATX, ATX, WBI
stockmarkets: Wien
language: English

Digital press kit: http://www.ots.at/pressemappe/4106/aom

Rückfragen & Kontakt:

STRABAG SE
Diana Neumüller-Klein
Head of Corporate Communications & Investor Relations
Tel: +43 1 22422-1116
diana.klein@strabag.com

ORIGINAL APA-OTS TEXT - THE INFORMATION CONTAINED IN THIS PRESS RELEASE IS SUBJECT TO THE EXCLUSIVE RESPONSIBILITY OF THE ISSUER | CNE0001