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M&A: FAS Russia approves takeover of Gazstroy by LSR Walling Materials NW

Russia's Federal Antimonopoly Service granted the application of LSR Walling Materials North-West LLC (Leningrad region) for the takeover of Gazstroy LLC, the regulatory body informed.

The core business of Gazstroy LLC is the manufacture of bricks, tiles and other construction products from burnt clay.

The core business of LSR Walling Materials North-West LLC is the manufacture of bricks, tiles and other construction products based on burnt clay. The company is under control of OJSC LSR Group.

OJSC LSR Group (tax number: 7838360491) founded in 1993 produces building and construction materials, implements real estate development and construction projects. The group comprises manufacturers of ceramic bricks, foamed concrete, nonmetallic building materials, ready-mix concrete, concrete products and large panel residential construction companies. The principal shareholder of the company is Andrei Molchanov.

IFRS net profit of OJSC LSR Group for 2013 grew by 7% to RUB 5.234 billion from RUB 4.914 billion the year before. Revenue increased by 7% to RUB 65.316 billion from RUB 61.122 billion, EBITDA by 6% to RUB 14.156 billion from RUB 13.392 billion, operating profit by 13% to RUB 10.916 billion from RUB 9.626 billion.

"AK&M", 15.07.2014


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