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| Lafarge activity in Turkey to be divested French cement giant Lafarge announces the divestment of its Cement, Concrete and Aggregates activities in Marmara and West Black Sea Regions in Turkey to the leading Turkish company in the cement sector, OYAK Cement Group, for an enterprise value of 163 million €, representing 10 times 2008 Ebitda. Lafarge Marmara and West Black Sea operations are comprised of one cement plant in Darıca-Kocaeli, one cement grinding station in Karadeniz Eregli - Zonguldak, nine ready-mix concrete plants and three aggregate quarries. The Share Sale Agreement includes 97.3% of Lafarge Aslan and of its controlled subsidiaries, including Lafarge Eregli controlled at 98,65 % and Lafarge Beton controlled at 97,95% by Lafarge. It will be submitted to the Turkish Competition Board for approval. Lafarge will continue to own a cement plant in the Eastern Region and remains also present with its gypsum activity through a joint venture with Dalsan and with a minority share holding in Baticim in Aegean region. This divestment is part of Lafarge's objective of €1 billion divestment plan in 2009. As part of this plan, Lafarge has recently sold several assets in its three divisions, notably its Asphalt assets in the Atlantic provinces of Canada to Halifax based Municipal Enterprise Company and its Aggregate and Concrete activities in the Zurich region of Switzerland to the Eberhard Group for a total of € 69 M. In total, Lafarge has divested more than € 230 Million since January 1st, 2009. write your comments about the article :: © 2009 Construction News :: home page |