OREANDA-NEWS  The largest cement producer in the world, Swiss Holcim, will transfer the Russian business to local management, company representatives said in Telegram.

Former Holcim enterprises in Russia will continue to operate under the new brand. The press service stressed that after signing the relevant agreement with the management, the procedure for the company's exit from the Russian market was completed.

"We do not comment on the details of the agreement before it passes all stages of approval, including by the government commission for monitoring the implementation of foreign investments in the Russian Federation," RBC quotes the statement of the Russian office of Holcim.

Holcim announced its intention to leave Russia at the end of March, explaining the decision by the situation in Ukraine. Previously, the company suspended all investments in the Russian market.

In the summer, the company reported that it had been subjected to an attempted raider takeover. "Unknown persons" submitted documents to the regional divisions of the Federal Tax Service to replace the participants of two legal entities belonging to the Holsim Russia group, based on the decision of the Leninsky District Court of Grozny. The division of the Federal Tax Service suspended the registration of these applications.

Evgeny Kostyukevich declared himself the new owner of the company. Later, Holcim managed to introduce interim measures through the arbitration Court of the Moscow Region aimed at prohibiting changes in the composition of shareholders.