Ukraine/Ireland: Divinereach, a company led by Hyundai Ireland chair Eugene O’Reilly, has bought a 25% stake in Dyckerhoff Ukraine from CRH, according to Business Post Ireland. The sale was a condition of CRH’s 2024 acquisition of Dyckerhoff from Italy-based Buzzi.
Local competitor Kovalska has opposed the Dyckerhoff acquisition, arguing it created a duopoly with CemIn West and gave CRH a 46% market share, exceeding limits under Ukrainian and EU monopoly law.
CRH has defended its position, saying the acquisition was completed in accordance with accepted international practice, in full compliance with all legislative requirements and with the approval of the Antimonopoly Committee of Ukraine (AMCU).
CRH said “While we are monitoring the legal challenge to the AMCU approval in Ukraine... we are focused on investing in our businesses and supporting our employees.”
Kovalska plans to appeal the AMCU’s approval of the acquisition to the Ukrainian supreme court in September 2025.
