Russia: LSR Group is selling its Slantsy plant in the Leningrad region of Russia to Eurocement Group. The parties have signed a preliminary sales agreement, with Eurocement having obtained approval from Federal Antimonopoly Service of the Russian Federation (FAS).
Control of plant operations is expected to be transferred later in December 2014. LSR said that the deal is part of its strategy to 'focus on projects with the highest returns on invested capital and fast growing real estate development business, thus maximising value for shareholders.' LSR will use most of the proceeds to reduce its debt and make it 100% Ruble-based by the end of 2014.
