Cimentas completes acquisition of Elazig Cimento shares

Cimentas completes acquisition of Elazig Cimento shares
Published: 26 September 2006

Cimentas announced that following the approval of the competition board it completed the acquisition of 99.99% of Elazig Cimento, a cement concern, from the army pension fund Oyak for USD 110mn. Oyak group companies listed on the ISE, namely Bolu Cimento, Unye Cimento and Adana Cimento held 18%, 7% and 10% stakes in Elazig Cimento respectively. Cementir Holding and Cementir S.p.A own majority shares of Cimentas.