Displaying items by tag: Antimonopoly Committee of Ukraine

Ukraine: The Antimonopoly Committee of Ukraine (AMCU) has approved CRH Ukraine's acquisition of over 50% of the voting shares in Dyckerhoff Cement Ukraine. This move is part of a broader agreement that includes anti-competitive measures to be implemented within 24 months post-transaction. CRH Ukraine will acquire a 99.9775% stake in Dyckerhoff, with expectations for the European Bank for Reconstruction and Development to potentially join as an investor following a mandate signed in December 2023. 

Ukraine: The Antimonopoly Committee of Ukraine (AMCU) has stipulated that CRH must transfer 25-28% of shares in Dyckerhoff Cement Ukraine to an independent investor as a condition for its purchase of two Buzzi cement plants. In June 2023, CRH agreed to acquire parts of Buzzi's business in Eastern Europe, including the Ukrainian assets Volyn-Cement and YUGcement. The European Bank for Reconstruction and Development is expected to be the investor receiving the shares, following a mandate letter signed with CRH in December 2023. Additionally, CRH will be required to report regularly to the AMCU on production and pricing for the next five years and is expected to invest in the modernisation and expansion of the acquired plants while retaining jobs and improving working conditions.

Ukraine: The Antimonopoly Committee of Ukraine (AMCU) has launched an investigation into Ireland-based CRH's acquisition of certain Central-Eastern European assets of Italy-based Buzzi Unicem. The assets in question include two Ukrainian cement plants. The AMCU will assess the potential impacts of the consolidation on the cement market in Ukraine. The parties concluded the deal in June 2023, and expected to conclude it in September 2024. The AMCU first rejected CRH's application to it in September 2023, but subsequently agreed to reopen its examination of the deal in October 2023.

Ukraine: NEQSOL Holding Ukraine has filed an application to the Antimonopoly Committee of Ukraine (AMCU) to acquire a stake in Ivano-Frankivskcement. The group will take a loan from ‘leading international’ banks to pay for the stake.

NEQSOL Holding Ukraine manager Volodymyr Lavrenchuk, said “We are hopeful for an approval of the new deal by the AMCU so that we can welcome the high-tech enterprise Ivano-Frankivskсement into the NEQSOL Holding group of companies. We recognise the long-time outstanding results achieved by the Ivano-Frankivskсement management team and staff, who have created one of the most state-of-the-art cement plants in Europe.” He added “Our group of companies has successful experience in financing, including engagement of international financial institutions, which will help to secure the required investments for maintaining a high rate of growth of the cement plant.”