Oyak eyes Lafarge in cement company shuffle

Oyak eyes Lafarge in cement company shuffle
Published: 25 September 2006

A division of Turkey’s military pension fund-owned Oyak Group is eyeing the local assets of French cement giant Lafarge, a senior Oyak official suggested on Friday to national business daily Referans.

Comments made by Celal Çağlar, head of Oyak’s Automotive and Cement Companies Group, were taken to mean that the Lafarge Aslan Turkey Cement Group may be ripe for acquisition by the local fund.

“An announcement about the sale of a large cement group is on the way. That’s what we’re waiting for. We are interested,” said Çaglar, at a meeting related to the Oyak’s sale of Elazig Altinova Cement to rival Çimentas. Çaglar avoided disclosing details but the comment prompted the newspaper to confirm from unnamed sources that Oyak is interested in the purchase of the Lafarge assets.