Turkey's Sabanci considering sale of three cement factories -two sources (updated)

Akcansa Cimento Sanayi ve Ticaret AS

18/07/2018 15:10

(Adds details, background)
    By Birsen Altayli and Ebru Tuncay
    ISTANBUL, July 18 (Reuters) - Turkey's Sabanci Group
 SAHOL.IS  is considering the sale of three of its cement
factories, Kayseri, Nigde and Ladik, two sources close to the
matter said on Wednesday.
    The sources said Sabanci had authorised Turkish financial
services group Unlu & Co for the deal. The three factories
belong to Sabanci's Cimsa  CIMSA.IS  and Akcansa  AKCNS.IS 
units.
    Sabanci Holding, one of Turkey's largest conglomerates, and
Unlu & Co both declined to comment. 
    Cimsa shares rose as much as 9.8 percent and Akcansa's as
much as 6.7 percent on news of the deal. As of 1405 GMT, Cimsa
was up 6.7 percent at 10.61 lira and Akcansa was up 1.1 percent
at 9 lira.
    According to Cimsa's 2017 annual report, the Kayseri factory
has an annual production capacity of 1.1 million tonnes and the
Nigde factory has a capacity of 818,000 tonnes. Cimsa owns three
other cement factories.
    Akcansa, which owns three cement factories, is jointly owned
by Sabanci and Germany's HeidelbergCement  HEIG.DE . Its Ladik
factory has a production capacity of 1 million tonnes.

 (Additional reporting by Can Sezer; Writing by Ali Kucukgocmen;
Editing by David Dolan)
 ((ali.kucukgocmen@thomsonreuters.com , @alikucukgocmen;
+902123507067; Reuters Messaging: Reuters Messaging:
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