Overin Ltd acquires 100% ownership of PJSC HeidelbergCement Ukraine

Overin Ltd (Cyprus) has brought the shares of PJSC HeidelbergCement Ukraine to obtain a 100 per cent stake in the company.

Among the plant bought by Overin Ltd are the 0.61Mta Dniprodzerzhynsk grinding plant, the 1.69Mta Amvrosiyivka integrated plant and the 1.5Mta Kryvyi Rih integrated plant.

Overin Ltd had already secured the majority ownership of PrJSC HeidelbergCement Ukraine in May 2019 when it had a stake of 99.8308 per cent.

Overin Ltd (Concorde Capital Group) also completed the acquisition of HeidelbergGranite Ukraine LLC, HeidelbergBeton Ukraine LLC and Raybalsiy Karyer LLC.

"We took advantage of a favorable situation – when the previous owners decided to sell their assets and the price was more than wise. We are entering this business because the cement market is attractive. It is stable and is demonstrating consistent growth, though not necessarily large. We at Concorde Capital believe that such a tendency will maintain itself in the nearest years owing to growth in the residential construction market,” Concorde Capital CEO Igor Mazepa said about the deal.

"We conduct the operational managements of companies. In the nearest future, we will conduct a detailed audit of assets and decide how to optimize expenses on energy and logistics. And as a result, we hope to improve the factories’ effectiveness. I believe this year will be profitable, and next year as well."