According to reports, Turkey’s Sabanci Holding, based in Istanbul, is interested in purchasing some of the assets being sold by Lafarge and Holcim as part of the companies’ merger plans. Industry insiders noted that Sabanci Holding, which owns Akçansa Cimento and Çimsa Cement, is predominantly interested in the cement giants’ European businesses and has already attained preliminary information to assess these assets.
The planned acquisitions form part of Sabanci Holding’s growth strategy. In March 2014, the company stated that it plans to invest approximately TL1 – 1.5 billion (US$448 – 672 million) in new assets. According to reports, preparations are already underway for a bid in December.
Edited from various sources by Rosalie Starling
Read the article online at: https://www.worldcement.com/europe-cis/24092014/turkeys-sabanci-holding-to-bid-for-lafarge-holcim-assets-538/