Ciment Français to transfer Afyon Çimento shares to CIMSA

Following the announcement that Ciments Français plans to sell its shareholding in the Turkish cement company, Afyon Çimento Sanayii Turk A.S., a share purchase agreement has been executed. The agreement, which has been reached with CIMSA, involves the sale of 51% of the share capital, a total nominal value of TL1 530 000. The purchase price stands at TL57 530 000 (approximately €25 million).

The transfer will take place once approval from the Competition Board has been obtained. The sale marks the end of Ciments Français’ role as a cement producer in Turkey.

Read the article online at: https://www.worldcement.com/europe-cis/16022012/afyon_%C3%87imento_shareholding_sale/