Italcementi sells Afyon stake to Cimsa
First publishedon www.AggBusiness.com
Italy's Italcementi, a multinational company which produces cement, ready-mix concrete and construction aggregates, has reached an agreement, through Ciments Francais, to sell 51% of its Afyon Turkish unit to Cimsa Cimento Sanayi ve Ticaret.
The agreed price for the sale of its stake has been finalized at 57.5 million Turkish lira (€24.9 million).
The stake and the payment will be done at the closing of the operation, after the approval of the antitrust authorities.
After the completion of the deal, Italcementi will cease to be an active producer in the Turkish cement market.