DC Advisory advises IFCEM’s shareholders on TCC Group’s proposed acquisition of IFCEM
Background
- Ivano-Frankivsk Cement (“IFCEM”) and its related companies are leading Ukrainian producers of cement and building materials, with annual cement production capacity of 4.3 million tonnes and approximately 2,500 employees
- TCC Group is a Taiwan-based global industrial group and one of the world’s largest cement producers, with more than 40 production sites across Asia, Europe and America and cement production capacity exceeding 112 million tonnes per year
- The proposed acquisition covers 100% of IFCEM, Ivano-Frankivsk-Dakh, KRU Gips, KRU Mix and their respective subsidiaries
Process
- DC Advisory was mandated by IFCEM’s shareholders to provide sell-side M&A advice on the proposed sale of IFCEM
- DC Advisory managed a competitive process, leveraging its Industrials sector expertise and international reach to support IFCEM's shareholders on the proposed sale to TCC Group
- The transaction was completed against the backdrop of Russia's full-scale invasion of Ukraine, with DC Advisory successfully navigating significant challenges encountered throughout the process
Outcome
- IFCEM’s owners have decided to transact with TCC based on attractive deal terms and on TCC’s commitment to closing a deal in the current geopolitical environment
- TCC Group’s board authorized the proposed acquisition for an enterprise value not exceeding €750m, subject to customary adjustments for net debt and working capital
- Completion remains subject to regulatory approvals in Taiwan, Ukraine and other relevant jurisdictions, as well as customary closing conditions
- The partnership is expected to support IFCEM’s continued development and participation in Ukraine’s reconstruction, while extending TCC Group’s European cement footprint into Eastern Europe
- This is the 55th Industrials deal announced by DC Advisory over the past 12 months and further demonstrates DC Advisory’s strong track record of providing comprehensive sell-side advice in the Industrials sector
“We wish to thank Klaus and the DC Advisory team for their longstanding commitment and trustful advice. Their international reach, expertise, personal dedication and perseverance were instrumental to achieving a successful outcome.”
“This transaction highlights DC Advisory’s strong capabilities across the CEE region. I’m proud of our team, led by Klaus Vukovich, for delivering such a significant milestone transaction. We were delighted to advise on this cross-border partnership, which supports IFCEM’s continued growth while enabling TCC Group to expand its presence in Eastern Europe.”
“IFCEM is a reference Industrials group in Western Ukraine and we are proud to have advised its shareholders on this high-profile deal. With TCC Group, IFCEM will be backed by a leading global cement group with international reach and expertise. This transaction is the result of a longstanding effort and we are grateful to our client for their trust over many years.”
- Industrials
- M&A Advisory
Disclaimer
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