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News Sberbank acquires Eurocement owner

Sberbank acquires Eurocement owner

Written by Global Cement staff 03 November 2020
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Russia: Sberbank has acquired a 100% stake in GFI Investment Limited, owner of Eurocement. RosBusinessConsulting News has reported that the acquisition followed an increase in GFI Investment Limited’s overdue debt to Sberbank in mid-2020. Sberbank in turn reported the largest increase in its overdue corporate loans in its history in July 2020. The bank says it does not have operational control of the group. However, it is reportedly “Looking for a strategic investor” for the asset.

Eurocement is the largest cement producer in Russia operating 10 plants domestically and abroad.

Last modified on 04 November 2020
Published in Global Cement News
Tagged under
  • Russia
  • Sberbank
  • Eurocement
  • Acquisition
  • Divestments
  • GCW480

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