TCC Group Holdings (TCC), through its Netherlands subsidiary TCC Group EMEA Holdings, has agreed to acquire PJSC Ivano-Frankivskcement (IFCEM), a leading Ukrainian cement and building materials group, and its related companies for up to €750 million.
The acquisition marks TCC’s entry into Eastern Europe, positioning it to participate in Ukraine’s post-war reconstruction and advance its vision of a sustainable global footprint.
IFCEM is the second-largest cement producer in Ukraine, with an annual cement production capacity of 4.3 million tonnes and a 36 percent domestic market share.
The S&C team advising TCC includes Gwen Wong and Jeffrey Lee.
S&C has advised on the following transactions involving TCC:
- All eight of TCC’s global depository share and convertible bond offerings since 2018, as international counsel to the initial purchasers;
- TCC’s acquisition of 65.15 percent of the shares of NHOA in 2021, a French technology and industrial company focusing on energy storage systems that was then listed on Euronext Paris, NHOA’s rights offers following the acquisition and NHOA’s privatization in 2024; and
- TCC’s share purchase and restructuring agreement with Ordu Yardımlaşma Kurumu, pursuant to which TCC consolidated Borsa Istanbul-listed OYAK Çimento Fabrikaları Anonim Şirketi and Cimpor Portugal Holdings, the largest cement manufacturer in Turkey and Portugal, respectively.