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News Russian Federal Antimonopoly Service allows Topkinsky Cement to acquire 25% stake in Iskitimtsement

Russian Federal Antimonopoly Service allows Topkinsky Cement to acquire 25% stake in Iskitimtsement

Written by Global Cement staff 03 December 2014
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Russia: Topkinsky Cement, a part of Siberian Cement, has received the Federal Antimonopoly Service's (FAS) permission to purchase a 24.92% voting stake in Iskitimtsement. Siberian Cement's stake will therefore grow to 49.899%. In February 2013 the FAS blocked Sibirsky Cement from acquiring a 90% stake of Iskitimtsement's voting shares.

Iskitimtsement posted a revenue of Euro85m and a net profit of Euro11m in 2013 compared to a revenue of Euro77m and a net profit of Euro16m in 2012. The cement plant holds 17% of the Siberian Federal District's cement market.

Published in Global Cement News
Tagged under
  • Russia
  • Topkinsky Cement
  • Siberian Cement
  • Federal Antimonopoly Service
  • Stake
  • Acquisition
  • GCW179

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