18 Aug '08
Novosibirsk's multi-sector group RATM has announced plans to purchase Armenia-based cement factory Mika-Cement.
A company spokesman said the stake to be acquired would hover between 75% plus one share and 100% but didn't disclose the actual value of the deal. Analysts estimate that RATM could pay between $60m to $120m.
The deal is to be finalized by the end of August. The factory will be the group's first foreign asset.
The purchase of the Armenian factory is part of RATM's strategic development program, under which production of at least 10 million tons of cement a year is envisioned by 2014.