Heidelberg Materials divests its joint venture in Georgia

Heidelberg Materials divests its joint venture in Georgia
26 April 2023


Heidelberg Materials has completed the divestment of its joint venture in Georgia. The company previously held a 45 per cent stake in CaucasusCement Holding BV, the parent company of HeidelbergCement Georgia Ltd and Terjola Quarry Ltd.

Heidelberg Materials sold its share to its long-term joint venture partner Cement Invest BV, an investment company jointly managed and owned by the Georgian Co-Investment Fund and Hunnewell Partners. The joint venture’s scope included two integrated cement plants, 14 ready-mixed concrete plants, and two aggregates plants.

The partners agreed to not disclose the financial terms of the transaction. 

Published under Cement News