Titan Cement sells Egyptian stake to IFC

Titan Cement sells Egyptian stake to IFC
Published: 21 November 2010

Titan Group announces the completion of the €80m equity investment of International Finance Corporation (IFC) in Alexandria Portland Cement Company through the purchase of a stake in Titan’s holding company Alexandria Development Limited (ADL). The transaction results in IFC holding through ADL a 15.2% minority stake in APCC and subsequently in Titan’s Egyptian operations.
 
Titan is an independent cement and building materials producer based in Greece. The Group owns 13 cement plants in eight countries. In 2009, the Group sold over 16Mt of cement and cementitious materials, 4Mm3 of ready-mixed concrete, 15Mt of aggregates and various other building materials.