Russia's Sibirskiy To buy Italcementi's Turkish Assets

April 2008 | M&A News Alert

Italcementi Group has agreed to sell its Turkish Assets to Russian cement maker Sibirskiy. Italcementi's French Unit Ciments Français will sell Set Group, its Turkish unit for EUR600mn (US$937.6mn). Sibirskiy will pay EUR400mn in cash and EUR200mn in shares, which will give Italcementi a 5.4% stake in Sibirskiy.

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