A Cypriot company buys more than 50% of a Ukrainian insurance company, and an Irish company, CRH, is finalizing the purchase of two cement factories in Ukraine for €100M.

The Antimonopoly Committee of Ukraine (AMCU) allowed Saggarco Limited (Cyprus) to acquire more than 50% of the shares of the RESPECT insurance company. On April 19, 2024, Saggarco Limited entered into five sales agreements with several shareholders to acquire 96.382% of RESPECT’s shares.

At the same time, the AMCU named its conditions for CRH regarding the acquisition of two cement plants in the Rivne region and the Mykolaiv region for €100M. The Irish CRH Group must transfer 25-28% of the acquired shares of Dyckerhoff Cement Ukraine to an independent investor within nine months `to complete the agreement on acquiring Ukrainian cement plants from an Italian company, Buzzi. It is expected that this will be done with the EBRD, with which CRH signed a letter of mandate on joint readiness to invest in the Ukrainian factories of Dyckerhoff Cement Ukraine. This agreement may become the second largest concluded since the beginning of the full-scale war.