Russian Sberbank gets 6% of LH from Eurocement in repurchase deal

Sberbank CIB, the investment banking arm of Russian lender Sberbank, announced on Friday it now holds six per cent of LafargeHolcim following a repurchase deal with Russian Eurocement Holding.

Under the terms of the agreement, the investment arm had organised financing for Eurocement Holding AG in return for 37m shares in LafargeHolcim. Eurocement has the right to buy back the shares at a specific price and on a certain date.

The agreement was implemented on 21 January, the statement said. No further details were disclosed.

According to LafargeHolcim's website, Eurocement held 6.4 per cent of the company as of 15 July 2015 and is among the largest shareholders of the company.