ECONOMY

IFC buys 11.5 pct stake in Titan Cement

Titan Cement Co SA, Greece?s biggest producer of the building material, said the International Finance Corporation has acquired an 11.5 percent stake in its Serbia, Kosovo and the Former Yugoslav Republic of Macedonia units for 50 million euros.

The investment by IFC ?is expected to add significant value to Titan?s investments in Southeastern Europe,? the Athens-based company said in an e-mailed statement on Tuesday.

[Bloomberg]