EBRD sells its stake in Holcim Azerbaijan

The European Bank for Reconstruction and Development (EBRD) has sold its 10 per cent stake in Holcim Azerbaijan to LafargeHolcim. Therefore, the company’s share in Holcim Azerbaijan has now risen from 66 to 76 per cent.

EBRD had owned the shares from 2007 and refused to increase its stake in the company to 20 per cent in August 2017, according to AzerNews.

Holcim Azerbaijan, formerly Garadagh Cement, operates 1.7Mta of capacity and accounts for 40 per cent of the cement market in the country.