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Uzbek court reportedly annuls Eurocement acquisition of Akhangarancement

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World Cement,

According to reports, an Uzbek court has annulled Eurocement’s acquisition of Uzbekistan’s biggest cement producer, Akhangarancement. Eurocement acquired a 75% stake in the company in 2006.

The reports indicate that the Uzbek State Competition Committee filed a lawsuit last week and the court ruling was made on 21 July. It is suggested that there are plans to nationalise Akhangarancement. However, it is also reported that Eurocement will appeal the court ruling.

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