Strategic investment group NEQSOL Holding plans to enter the Ukraine construction materials market through the purchase of shares in Ivano-FrankivskCement, the country's biggest cement manufacturer.
NEQSOL says the construction materials industry is one of its priority directions, and it is pursuing a strategy of creating a leading cement industry player in Central and Eastern Europe. The Holding owns Norm Cement, an Azerbaijan plant launched in 2013, which NEQSOL states is now the largest cement producer in the South Caucasus.
According to NEQSOL, its group of companies is currently at the final stage of negotiations with the shareholders of the Ivano-FrankivskCement Private Joint Stock Company (PJSC). On October 18, the Holding filed an application to the Antimonopoly Committee of Ukraine (AMCU) for the purchase of shares in PJSC.
NEQSOL says the Ukrainian deal is expected to be financed by a group of leading international financial institutions and banks. Due to ongoing negotiations, the commercial terms of the deal are not being disclosed.
NEQSOL adds that it is hopeful that AMCU will approve the deal. It says the Ivano-Frankivskсement management team and staff have created one of the most state-of-the-art, cutting-edge, and profitable cement plants in Europe.
In 2019, NEQSOL Holding bought Vodafone Ukraine, one of the country’s largest telecommunications providers. In early 2021, the Holding launched its regional Kyiv office.
NEQSOL Holding is a diversified group of companies operating across the energy, telecommunications, hi-tech, and construction industries in countries including the UK, USA, Turkey, Azerbaijan, Ukraine, Georgia and the UAE.
