Sabanci Holding has received a binding offer from an unrelated third party to acquire its 39.72 per cent stake in Akçansa Çimento, according to a disclosure filed with Türkiye’s Public Disclosure Platform (KAP) on 28 January.
The proposal values Akçansa, one of Türkiye’s leading cement producers, at US$1.1bn on a cash- and debt-free basis. The offer covers Sabanci Holding’s entire holding in the company, comprising shares with a nominal value of TRY76.04m (US1.75m), and will remain valid until the execution of a final share transfer agreement.
Akçansa is jointly owned by Sabanci Holding and Heidelberg Materials, each holding 39.72 per cent of the company, with the remaining 20.56 per cent listed and publicly traded on Borsa Istanbul.
Sabanci Holding said the binding offer will be assessed in accordance with its contractual commitments and applicable legal requirements. No further details were disclosed regarding the identity of the bidder or the proposed transaction timeline.
