The Irish group CRH (a building materials manufacturer) has received permission to purchase two Ukrainian cement plants from the Italian company Buzzi. This was reported by the Antimonopoly Committee of Ukraine (AMCU).
The deal was first discussed in June of the previous year when Buzzi's website announced the sale of part of its Eastern European business to CRH, including the Ukrainian plants "Volyn-Cement" and "Yugcement."
The purchase price will be €100 million.
This deal could become the second largest since the beginning of the full-scale Russian invasion of Ukraine.
To complete the acquisition of the Ukrainian cement plants, the Irish group CRH must transfer 25-28% of the shares of PJSC Dikerhoff Cement Ukraine to an independent investor within nine months— a decision announced in July on the Antimonopoly Committee of Ukraine's website. The European Bank for Reconstruction and Development is expected to be the investor.
The AMCU has been reviewing CRH's concentration request since September 2023.
Additionally, among the AMCU's requirements for CRH are: ensuring independent control over the plants, maintaining their production capacities, and guaranteeing fair conditions and market prices for cement consumers.
Moreover, the Irish group will be obligated to regularly report to the AMCU on production volumes and market supply in Ukraine.
CRH already operates three plants in Ukraine: in Kamianets-Podilskyi, Odessa, and Mykolaiv. However, in June 2023, the Italian corporation Buzzi SpA, which owns the two plants "Volyn-Cement" and "Yugcement," announced their sale to the Irish company for €100 million.
