# HeidelbergCement sells 50% of Georgian business to Cement Invest

HeidelbergCement sold 50% of its Georgian business to Cement Invest, a joint venture between Georgian Co-Investment Fund and Hunnewell Partners, for about €115 million, forming a joint venture that operates three cement plants and a grinding facility.

- Type: Acquisition
- Announced: 2017-11-10
- Where: Georgia, Georgia
- Value: $135.0M (115.0M EUR)
- Status: announced
- Capacity: over 2 million tonnes per year (cement)
- Products: cement, ready-mixed concrete, aggregates
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [HeidelbergCement](https://endata.com/companies/20595.md) (partner)
- [Cement Invest](https://endata.com/companies/28055.md) (acquirer)
- [Georgian Co-Investment Fund](https://endata.com/companies/28056.md) (investor)
- [Hunnewell Partners](https://endata.com/companies/28057.md) (investor)

## Sources

- [heidelbergmaterials.com](https://www.heidelbergmaterials.com/en/pr-10-11-2017), 2017-11-10: "The partnership will enable our new Georgian joint venture to benefit from GCF’s and Hunnewell’s project experience in Georgia."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.