Turkey's Sabanci Holding to sell cement unit stake to Heidelberg Materials

Heidelberg Materials AG

20/04/2026 08:03

GDANSK, April 20 (Reuters) - Turkish conglomerate Sabanci Holding SAHOL.IS said it will sell its remaining shares in cement maker Akcansa Cimento AKCNS.IS, according to an exchange filing made on Monday.

Sabanci said Heidelberg Materials HEIG.DE exercised its right of first refusal after a binding offer was made for a 39.72% stake in Akcansa, valuing the company at $1.1 billion on an enterprise value basis, subject to debt and cash adjustments.

Following the transaction, Germany's Heidelberg Materials said its stake in Akcansa will double 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.

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.

(Reporting by Miraç Eren Dereli; Editing by Daren Butler)

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