Turkey: Turkish cement producer Aslan Çimento said its parent company Oyak has proposed to sell its 24.24% stake in Aslan Beton to Aslan for US$4.52m.
After the acquisition, Aslan Beton will become a wholly-owned unit of Aslan Çimento while Aslan Beton, As-san Insaat, Birtas Birlik Insaat and Marmara Madencilik will be merged under the control of Aslan Çimento, Aslan Çimento said in a bourse filing. The managing board of Aslan Çimento will now assess the proposed move.