Taiwan company plans to buy Ukraine’s second-largest cement business for 750 million euros
TCC Group Holdings, based in Taipei, plans to purchase a 100% stake in Ivano Frankivsk Cement and three other related companies through its Dutch subsidiary, the company announced in a press release on Sept. 23.
A Taiwanese firm, TCC Group Holdings, is considering acquiring Ukraine's second-largest cement business, Ivano Frankivsk Cement, in a deal potentially worth 750 million euros. The company's board of directors has approved the agreement, which involves acquiring a majority stake in Ivano Frankivsk Cement and three additional related businesses.
Ivano Frankivsk Cement, located in western Ukraine, is currently the third-largest cement producer in the country, providing around 2,500 jobs. With the war leaving only three active cement producers in Ukraine, the deal could significantly impact the country's reconstruction efforts. TCC Group Holdings plans to bring its low-carbon research and development expertise to the Ukrainian market, as Europe's new Carbon Border Adjustment Mechanism (CBAM) puts a tax on carbon-intensive imports.
The final purchase price will be determined following regulatory approval in both Taiwan and Ukraine.
Written by urgent.news from Kyiv Independent's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
