Sale of Italcementi Turkish unit not closed

Sale of Italcementi Turkish unit not closed
Published: 21 October 2008

The sale of the Turkish business of Italy’s biggest cement maker Italcementi has not been completed despite a deadline of October 20, Italcementi’s subsidiary Ciments Francais said in a statement to the Istanbul stock exchange on Tuesday.

It did not give a reason for the delay.

Italcementi unit Ciments Francais was due to sell Set Group in Turkey for EUR600m in cash and stock to Sibirskiy Cement.