Taiwan/Ukraine: The board of directors of Taiwan-based TCC Group Holdings has authorised its Dutch subsidiary to acquire a 100% share in Ivano-Frankivskcement (IFCEM), Ukraine's second-largest cement producer, and three related building materials firms for value of €750m. IFCEM holds a 36% market share in Ukraine and has reportedly maintained uninterrupted production and sales throughout the war with Russia. The transaction remains subject to regulatory approvals from Taiwan, Ukraine and other jurisdictions.
TCC said that it is hoping to extend its European cement operations from Southern and Western Europe into Eastern Europe and position itself to participate in Ukraine's long-term reconstruction once the war ends.