Cement News tagged under: Turkey
Italcementi exits Turkish cement market16 February 2012, Published under Cement NewsCiments 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 ... |
Akcansa and Cimsa seek acquisitions08 February 2012, Published under Cement NewsTwo of Turkey’s leading cement producers, Akcansa Cimento and Cimsa, plan two separate overseas acquisitions this year, Bloomberg reports. According to Mehmet Gocmen, Head of Haci Omer Sabanci Holding – which has a stake in both producers – said the companies are looking at purchases in Turkey’s geographical region. The targets could be base in central and southern Europe to the Caucasus and Middle East, he said. Mr Gocem noted that both Akcansa and Cimsa have sufficient equity to make the... |
Afyon Cimento sale expected in February – source31 January 2012, Published under Cement NewsThe sale of Turkish cement producer Afyon Cimento is expected to be completed in February and 3-4 binding offers have been received, a source close to the matter disclosed to Reuters. Ciments Francais, a unit of Italcementi, said last May it may sell its 51 per cent stake in Afyon Cimento either through a block sale to a strategic investor or a public offering. |
Ciments Francais seeks to keep Sibstem advance payment13 January 2012, Published under Cement NewsCiments 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... |