Cement News tagged under: Ciments Francais

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Italcementi exits Turkish cement market

16 February 2012, Published under Cement News

Ciments Français (part of the Italcementi Group) and its wholly-owned subsidiary Parcib, have signed a deal with Cimsa for the sale of 51 per cent of the capital of Afyon for TRY1,530,000. The overall value of the sale has been fixed at TRY57,530,000, a memo explains. Transfer of the shares to Cimsa and the payment for them will take place when the deal is completed, once the necessary authorisation has been obtained from the monopoly watchdog. The final price could then be subject ...

Ciments Francais seeks to keep Sibstem advance payment

13 January 2012, Published under Cement News

Ciments Francais said it wants to keep a EUR50m advanced payment by SibCement for Turkish cement assets which the latter did not acquire, according to local press reports. Ciments Francaise filed a suite with the Supreme Arbitration Court on 20 December to recognise a ruling by the Istanbul Arbitration Court made on 7 December 2010. Under the ruling, the French company did not have to repay the advance payment to SibCement. In March 2008, Sibtsement announced that it would acquire Turk...