Taiwan's TCC Group to buy Ukrainian cement maker and three affiliates for up to €750 million
TCC Group's board approved its Dutch subsidiary to acquire 100% of Ivano-Frankivskcement and three related Ukrainian firms for up to €750 million, subject to regulatory clearance.
At a special meeting, TCC Group Holdings’ directors gave the green light for its Dutch subsidiary to acquire the full shareholdings of Ukrainian cement producer Ivano-Frankivskcement (IFCEM) along with roofing-materials firm Ivano-Frankivsk-Dakh, gypsum maker KRU Gips and dry-mix mortar producer KRU Mix, in a transaction that could reach €750 million. The final price will be refined based on net debt and working-capital figures, and the deal remains subject to approvals from regulators in Taiwan, Ukraine and other relevant jurisdictions.
TCC seeks to broaden its European footprint from Southern and Western Europe into Eastern Europe, positioning itself for Ukraine’s long-term rebuilding after the war. IFCEM holds about a 36% share of the Ukrainian market and already supplies Poland, Romania, Moldova, Slovakia and Hungary. The company has kept its plant in Ivano-Frankivsk operating throughout the conflict and has installed solar and gas-fired power to lower grid dependence.
TCC plans to introduce its low-carbon cement technologies to the new assets, aligning with EU carbon-border rules and its sustainability goals. Morgan Stanley is acting as financial adviser, and the firm may invite co-investors such as supranational funds.
Why it matters
The acquisition could reshape Ukraine's cement industry and bolster large-scale reconstruction after the war.
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