Turkish cement sale

Turkish cement sale
08 July 2004

Garanti Securities and Ernst&Young Corporate Finance consortium has been mandated by Turkish government’s Savings & Deposit Insurance Fund (TMSF) to act as financial advisor in the sale of the Uzan Group’s Companies classified within the “Cement-Construction-Finance-Investment-Service-Other” group. The initial phase of cement sector related transaction includes, Bartin, Ladik, Trabzon, Ergani, Lalapasa, Eskisehir, Sanliurfa, Gaziantep and Van cement plants and Lalahan grinding station (the “Cement Portfolio”). The transaction is structured as an asset sale and investors, either individually or with a consortium, are expected to bid for the whole “Cement Portfolio” as a block.

Clinker and cement production capacities of these plants total some 4Mt of clinker capacity and 7.8Mt of cement-making capacity.

Further information is available to interested parties.

Published under Cement News