The Belarusian government and CRH are in talks over the possible sale of state-owned cement company, Krasnoselskstroymaterialy, to the Irish building materials company. According to the Irish Times, the company is being offered to CRH for US$200 million.
CRH may baulk at the price tag, however, with the Belarusian Deputy Prime Minister, Anatoly Kalinin, reportedly saying that CRH was “unwilling to buy the entire enterprise, although we offer 100% of the shares.”
“We would like something close to [US$200 million] but the investor wants to pay less than that,” Kalinin added, according to Belarusian news agency, BelTA. “Negotiations are in progress. They are rather consistent. Our views are getting closer.”
The sale of Krasnoselskstroymaterialy, the largest cement company in Belarus, is part of a move to privatise a variety of state-owned assets. In addition to supplying the local market, the company also exports to neighbouring countries.
Read the article online at: https://www.worldcement.com/europe-cis/19062018/krasnoselskstroymaterialy-offered-to-crh/