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Ciment Français to transfer Afyon Çimento shares to CIMSA

World Cement,


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/

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