Nuh Cimento subsidiary sells stake in electricity producer, Turkey

Nuh Cimento announced that its Nuh Enerji Elektrik energy subsidiary has agreed to sell its 100 per cent stake in electricity producer Pamuk Elektrik to Haldiz Insaat Otomotiv, for a consideration of TRY8.2m (EUR 2.8m)

The deal is subject to approval from Turkish energy market regulator EPDK and from the other related local authorities, according to a bourse statement by Nuh Cimento. The Turkish cement producer added that it would record a TRY16.6mn loss from the sale.