Building materials group CRH has reached agreement to acquire Lafarge-owned Mykolaiv Cement for an upfront cash consideration, including debt, of €96 million.

With the addition of Mykolaiv Cement, which is located in the Lviv region of western Ukraine, CRH becomes the market leader in Ukraine.

CRH said completion of the transaction remains subject to the granting of the required regulatory approvals.

The company first entered the Ukrainian market in 1999 with the acquisition of Podilsky Cement and in 2011 commissioned a dry process kiln at that facility with an annual clinker capacity of 2.3 million tonnes.

CRH also acquired a majority stake in Odessa Cement in 2011.