Azerbaijan: The Board of Directors of the European Bank for Reconstruction and Development (EBRD) has declined to increase its participation share in the capital of Holcim Azerbaijan to 20%. No reason for the refusal has been disclosed. The bank currently holds a 10% share in the cement producer, according to Trend News Agency. The EBRD has been considering increasing its share in the cement producer since mid-2016. It said that it would continue its support in the development of Azerbaijan’s non-oil sector. Holcim Azerbaijan’s main shareholder is LafargeHolcim. It owns a 66% of the company. The bank expects government infrastructure projects to pick up the sector in the medium to long term.
European Bank for Reconstruction and Development declines to increase share in Holcim Azerbaijan
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