Russia: A court has accepted a request by the Prosecutor General’s Office to drop a claim for the appropriation of Russian assets of Germany-based Heidelberg Materials by the Russian government. The assets include shares in cement producers HeidelbergCement Rus and Shale Cement Plant Cesla, as well as minerals producers Gurovo-Beton and Syryevaya Kompaniya.
A lawyer for the prosecutor’s office said “The state's interests can be protected by other lawful means.”
Heidelberg Materials suspended new investments in its Russian business on 10 March 2022. The Prosecutor General’s Office subsequently requested its expropriation, following which a court froze the assets in August 2023. Interfax News has reported that representatives of Heidelberg Materials’ Russian business then made an undertaking to the Russian government, according to which they would maintain their prices, production volumes and number of employees.
