Titan Cement International SA has announced a definitive agreement to divest its 75 per cent share in Adocim Cimento Beton Sanayi ve Ticaret AS, comprising cement assets located in the eastern region of Türkiye, 50 per cent share to Mugla Cimento Sanayi ve Ticaret AS and 25 per cent to Yurt Cimento Sanayi ve Ticaret AS.
Following this transaction, Titan will receive total cash proceeds of US$87.5m. This transaction represents a strategic move aligned with Titan group’s long-term growth objectives in Türkiye. The transaction is subject to customary regulatory approvals and is expected to close in the second quarter of 2025. This divestment is part of Titan’s group broader strategy to strengthen its portfolio and seek reinvestment opportunities. The group will continue to operate cement grinding and supplementary cementitious assets in other parts of Türkiye.
The cement assets included in the divestment comprise an integrated cement plant and a cement terminal, and related infrastructure. Employees associated with these operations will transition as part of the agreement, ensuring continuity for customers and stakeholders.
