Titan Group has confirmed it will divest its cement assets in the Eastern part of Türkiye as part of a major transaction.
Titan Group has confirmed it has entered into an agreement to divest its 75 per cent share in Adocim Cimento to Mugla Cimento (50 per cent) and Yurt Cimento (25 per cent).
According to Titan Group, the deal will deliver USD $87.5 million cash proceeds. It is subject to customary regulatory approvals and is expected to close in the second quarter of 2025.
“This transaction represents a strategic move aligned with Titan Group’s long-term growth objectives in Türkiye,” Titan Group said in a statement.
“This divestment is part of TITAN’s Group broader strategy to strengthen its portfolio and seek reinvestment opportunities. The group will continue to operate cement grinding and supplementary cementitious assets in other parts of Türkiye.”
The divestment includes various cement assets, including an integrated cement plant and a cement terminal, and related infrastructure. Titan has confirmed that employees associated with these operations will be transitioned as part of the agreement.
The announcement follows Titan Group’s confirmation that it would expand its presence in the South Asian market through a new joint venture in India focused on low-carbon building materials.
The new joint venture, in collaboration with JAYCEE, will operate under the newly established entity Atlas EcoSolutions Private Limited, with TITAN Group holding a majority stake.
