Titan Group announces divestment of cement assets in the Eastern part of Türkiye
Published by Alfie Lloyd-Perks,
Editorial Assistant
World Cement,
Titan Cement International S.A. announces that it has entered into a definitive agreement to divest its 75% share in Adocim Cimento Beton Sanayi ve Ticaret A.S., comprising cement assets located in Eastern Region of Türkiye, 50% share to Mugla Cimento Sanayi ve Ticaret A.S. and 25% to Yurt Cimento Sanayi ve Ticaret A.S. Following this transaction, Titan will receive total cash proceeds of US87.5 million.
This transaction represents a strategic move aligned with Titan Group’s long-term growth objectives in Türkiye. The transaction is subject to customary regulatory approvals and is expected to close in the second quarter of 2025.
This divestment is part of TITAN’s Group broader strategy to strengthen its portfolio and seek reinvestment opportunities. Titan will continue to operate cement grinding and supplementary cementitious assets in other parts of Türkiye.
The cement assets included in the divestment comprise an integrated cement plant and a cement terminal, and related infrastructure. Employees associated with these operations will transition as part of the agreement, ensuring continuity for customers and stakeholders.
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Read the article online at: https://www.worldcement.com/europe-cis/20022025/titan-group-announces-divestment-of-cement-assets-in-the-eastern-part-of-trkiye/
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