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EBRD acquires shares in Ukraine’s SBK
Purchase linked to major investment programme
The EBRD is acquiring 12 per cent of shares in Slobozhanska Budivelna Keramika
(SBK), a leading facing and ceramic brick producer in Ukraine, with an option
to increase its stake to 25 per cent at a later stage. The Bank and SBK
shareholders signed an agreement on the purchase today in Vienna, Austria.
Subject to regulatory approval, the acquisition will take place over the next
few weeks and is linked to the implementation of a major investment programme.
After completion of that programme, SBK expects to double its total output,
bringing it to more than 250 million brick units per year by the end of 2008.
Specifically, with the Bank’s participation, SBK will launch a greenfield
plant for production of hollow porous blocks in the Kiev region. The
investment programme will also finance upgrades and expansion of the company’s
existing production lines at plants in Irpen’, Kharkiv and Romny.
Olivier Descamps, Business Group Director for southern and eastern Europe,
said the project fully complies with the Bank’s strategy to modernise and
improve the efficiency standards of Ukrainian manufacturing facilities. The
project will allow SBK to respond to the growing market demand for
construction materials and reach the highest EU environmental standards by
introducing the latest technologies, he added.
Igor Dalichuk, Chairman of the board of Directors, said that presence of the
EBRD as a shareholder of SBK, will give new opportunities for the expansion of
the company’s activities. Our company is a market leader. We plan to further
strengthen our position and take a larger share of the Ukrainian brick market
within the next few years.
The EBRD is the single largest financial investor in Ukraine, having
committed to date over EUR 2.5 billion across all sectors in the country.
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