Limak agrees to acquire part of Italcementis Turkey operations for EUR 290mn.

By bne IntelliNews February 28, 2011
Italcementi Group announces that its subholding Ciment Francais agreed to sell Set Group Holding and its subsidiaries for a total of EUR 290mn on cash and debt free basis to local Limak Group. Set Group Holding operates three cement plants, one grinding centre and 13 ready-mixed concrete facilities. ISE-listed Afyon Cimento, in which Ciment Francais holds a 76.5% stake, is not included in the deal. The statement asserts that the transaction, subject to approval by the Turkish authorities, is expected to be completed in Q2 this year.

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