Competition Board approves Van Cimento deal, Turkey

Competition Board approves Van Cimento deal, Turkey
Published: 08 September 2009

The competition board announced that it approved the deal between local cement maker Askale Cimento and Lafarge for the former to acquire full control in peer Van Cimento.

In July, Askale Cimento announced that it purchased peer Van Cimento for EUR 33mn. Van Cimento was founded in 1969 in the city of Van in eastern Turkey . The company was later bought by local Uzan Group before being seized by the state.

Egypt-based OCI acquired Van Cimento that later became a member of Lafarge Group as the French company acquired OCI’s parent company Orascom Cement in 2008.