German manufacturer of building materials sold to cement plants in Ukraine

Немецкий производитель стройматериалов продал цементные заводы в Украине

German company, HeidelbergCement is one of the world’s largest manufacturers of building materials – sold Ukrainian cement plants. In Ukraine the company has worked since 2001. New owners of steel structures-related investment banker Igor Mazepa. But it has entered a deal not alone but with partners.

“We do not consider the sale of assets of one company by another signal about decrease investment attractiveness of Ukraine. But we should not forget the well-known fact that during the conflict in the East of the country, the company has lost control over its two important factories,” – said in a German-Ukrainian chamber of industry and Commerce AHK Ukraine.

Although all declared that PJSC “Heidelberg Cement Ukraine” (the Dnieper) controls three cement plants, in reality they were only two in Krivoy Rog and Kamenskoye. The third enterprise is occupied near Yenakiyevo. Also it subsidiary, OOO was a factory for production of concrete in Lugansk.

Mazepa has confirmed the purchase from the German company 99.8% of the shares of PJSC “HeidelbergCement Ukraine”. But after the upgrade of the Supervisory Board (SB) of the joint stock companies, it became clear that Igor Mazepa did not act alone. 14 may 2019 by the General meeting of shareholders recalled from office by the head of the Supervisory Board Ernest Elito and Secretary of the Tungsten Gaertner, and dismissed members of the national Assembly albert cholera, Christian Mikli and Robert Breuer.

New members of the Supervisory Board, according to the decision of meeting of shareholders, became the General Director of open company “Concorde capital” Igor Mazepa and Deputy managing Director of investment banking services “Concord Consulting” Igor Sotnik.

In addition, the Supervisory Board also included the corporate Secretary of OJSC “Concern “Galnaftogaz” (owns a network of filling stations “OKKO”) Andrey Kostiuk, Director of “Volyn-Purifiers” Andrew Sorokowski and head of procurement Department of OJSC “Concern “Galnaftogaz” Oleg danilak.

Earlier it was reported that Concorde Capital Cyprus Limited company Overin became the dominant owner of a controlling stake (99,8308%) of the shares of PJSC “HeidelbergCement Ukraine” (the Dnieper).

In early February, 2019, it became known that HeidelbergCement AG, the second largest cement producer in the world, is preparing for the sale of its assets. Among the buyers of Ukrainian Concorde Capital investment group. According to sources, the information about the deal could become public in March-April of this year.

As you know, in Ukraine, the German company has been operating since 2001. Owns three Ukrainian cement plants “Krivoy Rog”, “Kamenskiy” and “amvrosiivka”.

In 2007, the German group HeidelbergCement bought a majority stake in the company “Dontsement” (Donetsk area). Thus, the German cement giant bought a third of the Ukrainian cement plant.

By the end of 2018 PJSC “HeidelbergCement Ukraine” increased a net loss of 42.3% to 613,6 million UAH, assets grew by 4,1% – to 1.82 billion.