Titan Cement International S.A. (Euronext Brussels, ATHEX, and Euronext Paris, TITC) has announced that it has reached a definitive agreement to transfer its 75% stake in Adocim Çimento Beton Sanayi ve Ticaret A.Ş., which includes its cement assets in Eastern Türkiye. Under this agreement, 50% of the shares will be transferred to Muğla Çimento Sanayi ve Ticaret A.Ş., while the remaining 25% will be acquired by Yurt Çimento Sanayi ve Ticaret A.Ş.
As a result of this transaction, Titan Group will generate a total cash income of $87.5 million. The transaction is expected to be completed in the second quarter of 2025, subject to regulatory approvals.
Through this sale, Titan Group aims to strengthen its portfolio and explore new investment opportunities. The Group will continue to operate cement grinding plants and supplementary cement material assets in other regions of Türkiye.
The transferred assets include an integrated cement plant, a cement terminal, and related infrastructure. Employees involved in these operations will also be transferred as part of the agreement, ensuring continuity of service for customers and stakeholders.
