Turkish majors eye LafargeHolcim divestment opportunities

Turkish majors eye LafargeHolcim divestment opportunities
18 April 2014

Turkish cement producer are keen on acquisition opportunities that may arise from the Lafarge and Holcim merger, according to reports by Reuters.

Oyak, the largest cement producer in Turkey, said it had started talks with international investment banks for possible acquisitions, and had US$3bn in cash allocated for opportunities arising from the merger.

Meanwhile, Limak Holding's cement group chief executive, Gultekin Aksuyek, said it had already started working on a budget allocation for these opportunities as it looks to increase capacity through acquisitions. "We are the third largest player in the Turkish cement sector now, holding a 13 per cent market share. We aim to become the largest player by the end of 2016 by buying at least three production facilities," he told Reuters.

Sabanci Holding, which holds cement firms Akcansa and Cimsa, is looking at growth through acquisitions, and has said it plans to spend TRL1-1.5bn (US$467-$700m) on such investments.

Published under Cement News