Cementir Holding N.V. announced to divest 100% of the share capital of Kars Cimento AS,
which owns an integrated cement plant (photo) in Northeastern Türkiye, with an annual grey cement production capacity of 0.6 Mta. Completion of a binding agreement of Cementir’s two subsidiaries Çimentaş A.Ş and Alfacem S.r.l. with Arkoz Madencilik A.Ş is expected by the end of this year, subject to regulatory approvals and customary terms and conditions. The transaction has an enterprise value of EUR 51m on a cash and debt-free basis. This divestment is aligned with Cementir Group strategy to optimize its geographic footprint and focus its strategic presence.