Bird & Bird today announces that it is advising CRH plc, the international building materials group, on the acquisition of Ukrainian cement producer Mykolaiv Cement from Lafarge SA.
CRH has reached an agreement to pay an upfront cash consideration, including assumed debt, of EUR 96 million to acquire Lafarge-owned Mykolaiv Cement. Closing of the transaction, which was announced at the end of April, is subject to the receipt of regulatory approvals.
CRH entered the Ukraine market in 1999 with the acquisition of Podilsky Cement and in 2011 it acquired a majority stake in Odessa Cement. The acquisition of Mykolaiv Cement will complement CRH’s existing cement production operations in the Ukraine.
The Bird & Bird team is led by corporate partner Stephen Walters and assisted by Emilie Barbezieux-Jarry, associate. The Ukrainian law firm Lexwell & Partners is advising CRH on matters of Ukrainian law.