Reuters is reporting that CRH and JV partner Eren Holding have applied to Turkey’s competition regulator to sell Denizli Cimento to the OYAK Group.
Initial rumours of the sale began a few months ago when Bloomberg reported that JPMorgan Chase had been appointed to handle the sale of the 50/50 joint venture.
According to its website, Denizli Cimento has a capacity of 2.5 million tpa and supplies cement within Turkey and across the Aegean region.
OYAK Cement has a cement production capacity of 17.5 million t in Turkey, amounting to a 17% market share, according to its website. The group has also been named as a potential interested party in the disposal of Lafarge-Holcim assets.