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News Heidelberg Materials exits Georgian joint venture

Heidelberg Materials exits Georgian joint venture

Written by Global Cement staff 25 April 2023
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Georgia: Heidelberg Materials has completed the divestment of its joint venture in Georgia. It previously held a 45% state in CaucasusCement Holding BV (CCH), the parent company of HeidelbergCement Georgia Ltd and Terjola Quarry Ltd, Tbilisi.

Heidelberg Materials sold its share to its long-term joint venture partner Cement Invest BV, an investment company that is jointly managed and owned by the Georgian Co-Investment Fund and Hunnewell Partners. The joint venture’s scope included two integrated cement plants, 14 ready-mixed concrete plants and two aggregates plants. The partners agreed to not disclose the financial terms of the transaction.

Heidelberg Materials said that these latest steps reflect its continued simplification of its country portfolio and would help to position the company as front runner on the path to Net Zero and circularity in the building materials industry.

Last modified on 26 April 2023
Published in Global Cement News
Tagged under
  • Georgia
  • HeidelbergCement Georgia
  • Heidelberg Materials
  • CaucusCement
  • Terjola Quarry
  • Hunnewell Partners
  • Georgian CoInvestment Fund
  • GCW605
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