Azerbaijan Intends to Buy Ukrainian Construction Complex

by Vladyslava Zhabrovets
Tuesday, October 19, 2021
Azerbaijan Intends to Buy Ukrainian Construction Complex

The corporate group plans to expand the investment portfolio in Ukraine, in particular to enter the building materials market

According to NEQSOL Holding, on October 18 the holding applied to the antimonopoly committee of Ukraine for the purchase of a block of stock of the largest Ukrainian cement producer Ivano-Frankivskcement private joint-stock company.

It was reported at a press release from NEQSOL Holding, the holding and the shareholders of Ivano-Frankivskcement PJSC are currently at the final stage of negotiations. It is planned that the transaction in Ukraine will be financed by a group of leading international financial institutions.

It is noted that the construction industry is one of the priority areas of work for the holding. NEQSOL Holding includes the Norm cement plant, which was launched in 2013 and today is the largest cement producer in the South Caucasus. With a strong international management team, NEQSOL Holding is pursuing a strategy to create a leading player in the cement industry in Central and Eastern Europe.

Volodymyr Lavrenchuk, Regional Director of NEQSOL Holding Ukraine, commented on the future deal as follows: “We hope for the approval of the new deal in the AMCU and the entry of the high-tech enterprise Ivano-Frankivskcement into the NEQSOL Holding group. We highly appreciate the long-term outstanding results achieved by the management and staff of Ivano-Frankivskcement, which created one of the most modern cement enterprises in Europe. Our holding has a successful experience of financing, including with the involvement of international financial institutions, which will help to ensure the availability of the necessary investments to maintain a high rate of development of the plant."

NEQSOL Holding is a diversified company operating in the energy, telecommunications, high-tech, and construction industries in the UK, USA, Turkey, Azerbaijan, Ukraine, Georgia, UAE, and other countries. The holding unites more than 30 subsidiaries, many of which are market leaders with more than two decades of experience in their fields.

These include Nobel Oil Services, Nobel Upstream, Bakcell, Vodafone Ukraine and Norm, the largest cement producer in the South Caucasus. NEQSOL Holding is constantly striving to stimulate growth and strengthen synergies between companies, as well as expand its activities through new geographic markets and business areas. This will also be achieved through such projects as Digital Silk Way, which aims to create the shortest modern fiber-optic transit infrastructure network connecting Europe with Central and South Asia.

You will be interested