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| Cimpor acquires Turkish unit of Lafarge  Cimentos de Portugal, SGPS, S.A. (Cimpor) signed a binding agreement for the acquisition of a set of direct and indirect participations representing approximately 99.7% of the share capital of the Turkish cement company Yibitas Lafarge Orta Anadolu Çimento Sanayi ve Ticaret A.S. (YLOAÇ). This company, with headquarters in Ankara, owns, together with a 72.9% held subsidiary, a total of 3 cement plants, 3 grinding plants, 12 ready-mix concrete facilities and 2 aggregates quarries, disposing of an annual production capacity of 1.6 million tons of clinker and an annual milling capacity of 3.5 million tons of cement. With the investments already in progress, these capacities shall be increased, until the end of 2008, to 2.4 and 4.8 million tons, respectively.The agreed Enterprise Value is EUR 533.56 million, reflecting a 10.1 multiple over the estimated adjusted EBITDA for 2006. Excluding the value attributable to the concrete and aggregates businesses, the referred Enterprise Value corresponds to EUR 190 per ton of cement sold. write your comments about the article :: © 2006 Construction News :: home page |