CRH Ukraine B.V. (Netherlands) has announced its intention to acquire a 99.9775% stake in the authorized capital of Dickerhoff Cement Ukraine PJSC, which owns two cement plants in Rivne and Mykolayiv regions.
The corresponding message the company posted in the information disclosure system of the National Commission for Securities and Stock Market (NCSSM) on August 12.
It is indicated that CRH Ukraine B.V. intends to purchase 158 million 311 thousand 865 common registered shares, which is 99.9775% of the authorized capital of PJSC. At the same time CRH and its affiliates do not own shares of “Dickerhoff Cement Ukraine” as of the date of the message.
As reported, in July 2024, the Antimonopoly Committee of Ukraine (AMCU) authorized CRH group to acquire the assets of Dickerhoff Cement Ukraine. At the same time, the condition of concentration is the transfer of 25-28% of shares of PJSC with the right of veto to an independent investor within nine months from the date of the purchase.
It is expected that such investor will be the European Bank for Reconstruction and Development (EBRD), since in December 2023 CRH signed a mandate letter with it regarding the joint acquisition of assets of the Italian company Buzzi in Ukraine.
In addition, CRH will be obliged to report regularly for five years to the AMCU, in particular on the volume of production and selling prices on the domestic market.
As reported, in June 2023, the Italian cement manufacturer Buzzi, listed by the National Agency for the Prevention of Corruption as an international sponsor of war, through its subsidiary Dyckerhoff GmbH reached an agreement to sell part of its business in Eastern Europe to the Irish group CRH, including Ukrainian assets in the form of two cement plants – Volyn Cement (Zdolbunov, Rivne region) and Yugcement (Olshanske, Mykolayiv region).
AMCU considered CRH’s application for concentration from September 2023.
CRH has been operating in Ukraine since 1999. Since November 2021, its cement enterprises in Ukraine have been operating under the Cemark brand: Podolsk Cement JSC (Khmelnytskyi oblast), Cement LLC (Odessa) and Mykolaivcement PJSC (Lviv oblast).
A separate line of CRH business in Ukraine is production of concrete and reinforced concrete products. PoliBeton Energo’s Bila Tserkva Reinforced Concrete Plant is a specialized enterprise that produces supports for power transmission lines. PoliBeton’s concrete unit in the north of Odessa joined CRH in 2020.
Since 1999, the company has invested about $500 million in Ukraine. In particular, since the start of the full-scale invasion, CRH has invested $80 million, including $34 million in the construction of a cement terminal in the Kiev region.
CRH is the leading producer of construction materials in the world. The company employs about 71 thousand people at 3200 enterprises in 28 countries. It is the largest producer of construction materials in North America and Europe. The company is also present in Asia. American depositary shares of CRH are listed on the New York Stock Exchange.
CRH Ukraine B.V., Dickerhoff Cement Ukraine
