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News CRH and Eren Holding to hire JP Morgan to sell joint venture in Turkey

CRH and Eren Holding to hire JP Morgan to sell joint venture in Turkey

Written by Global Cement staff 14 August 2014
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Turkey: Ireland's CRH and its Turkish partner Eren Holding AS have hired JP Morgan Chase & Co (JPM) to help sell their cement joint venture in Turkey. CRH and Eren Holding each own a 50% stake.

Companies including Haci Omer Sabançi Holding AS (SAHOL), Limak Holding AS and Oyak Cement Group are interested in the plant. The three potential bidders are among those shortlisted and the sale process for the venture, which is known as Denizli Çimento Sanayii TAS, could be finalised by October 2014.

Denizli produces about 3% of Turkey's and 31% of western Turkey's total clinker output, according to its website. It is aiming to increase its sales to Euro86.8m in 2014 from Euro76.1m 2013.

Published in Global Cement News
Tagged under
  • Türkiye
  • CRH
  • Eren Holding
  • JP Morgan Chase & Co
  • Denizli Çimento Sanayii TAS

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