Turkey's Sabanci exits Akcansa Cimento and CarrefourSA (updated)

Heidelberg Materials AG

20/04/2026 09:32

Recasts and writes through, adding Sabanci's exit from CarrefourSA, changes media packaging information

GDANSK, April 20 (Reuters) - Turkish conglomerate Sabanci Holding SAHOL.IS said it will sell its remaining shares in cement maker Akcansa Cimento AKCNS.IS and exit from retailer CarrefourSA CRFSA.IS.

Analysts have said the conglomerate has been looking to streamline its operations by off-loading assets with low profit margins.

Heidelberg Materials HEIG.DE bought Sabanci's 39.72% stake in Akcansa in a deal that values the company at $1.1 billion on an enterprise value basis, subject to debt and cash adjustments, according to a filing on Monday.

The transaction value was not disclosed.

The deal will double Heidelberg Materials' stake in Akcansa to 79.44%.

Akcansa operates three cement plants, 26 ready-mixed concrete plants, five aggregate quarries and five cement terminals across five seaports in Turkey's Marmara, Aegean and Black Sea regions.

Heidelberg Materials said Turkey's geographic position offers long-term strategic upside linked to future reconstruction and infrastructure demand in neighboring regions, including the Middle East and the Black Sea.

Akcansa Cimento shares were up more than 2% in morning trade while those of Sabanci were 2% lower.

Sabanci announced after the market close on Friday that it would exit CarrefourSA CRFSA.IS, a Turkish supermarket chain it founded with France's Carrefour.

Yeni Magazacilik, owned by the Aydin family, will buy Sabanci's 57.12% stake as well as 32.16% held by Carrefour Nederland. Financial terms were not disclosed.

Shares in CarrefourSA tumbled more than 9%.

    Yeni Magazacilik also owns discount retailer A101.

 (Reporting by Miraç Eren Dereli; Editing by Daren Butler and Edwina Gibbs)

 ((miraceren.dereli@thomsonreuters.com;))