TCC's European Arm to Acquire Equity in Five Ukranian Firms for 750 Million Euros

MT Newswires Live

09/23

TCC's (TPE:1101) European unit, TCC EMEA, plans to acquire all or part of the equity interests in five Ukrainian cement and building materials-related companies for an enterprise value of up to 750 million euros.

The targets include Ivano-Frankivskcement, Ivano-Frankivsk-Dakh, KRU Gips, KRU Mix and their respective subsidiaries, collectively known as BLUE, according to a Wednesday Taiwan Exchange filing.

TCC said BLUE is the second-largest cement group in Ukraine and has established operations and geographic advantages.

The transaction is subject to regulatory approvals, including from authorities in Taiwan and Ukraine, while TCC said BLUE will continue its existing business and operations.

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