Ukraine's antimonopoly committee clears CRH acquisition of Dyckerhoff Cement Ukraine
The Antimonopoly Committee of Ukraine (AMCU) has approved the deal by CRH Ukraine BV to acquire shares of PRJSC Dyckerhoff Cement Ukraine, according to an AMCU website report.
The acquisition will provide the buyer with over 50 per cent of the voting shares on the PrJSC Dyckerhoff Cement Ukraine board. The AMCU also gave permission to implement the measures provided for in the purchase and sale agreement that prevent competition (Subparagraph 16.1 of Paragraph 16 of the Share Purchase and Sale Agreement concluded between Dyckerhoff GmbH, CRH Ukraine BV and CRH Nederland BV), which must be carried out within 24 months after the completion of the transaction.
CRH Ukraine BV announced its intention to acquire a 99.9775 per cent stake in the charter capital of Dyckerhoff Cement Ukraine, which owns two cement plants in Rivne and Mykolaiv regions. The company posted the corresponding message in the information disclosure system of the National Securities and Stock Market Commission on 12 August 12 2024.
In June 2023 Italy-based Buzzi reached an agreement to sell part of its business in eastern Europe to the CRH, including Ukrainian assets in the form of two cement factories – Volyn-Cement (Zdolbuniv, Rivne region) and YUGcement (Mykolaiv region).
The AMCU has been considering CRH’s application for concentration since September 2023. CRH has been operating in Ukraine since 1999. Since November 2021, its cement plants in Ukraine have been operating under the Cemark brand: JSC Podilsky Cement (Khmelnytsky region), Cement LLC (Odesa,) and PJSC Mykolaivcement (Lviv region). Since its entry into the Ukrainian market, CRH has invested about US$500m in Ukraine. Since the beginning of the full-scale invasion, CRH has invested US$80m, including US$34m in the construction of a cement terminal in Kyiv region.
