Taiwan Cement to Raise Stake in Oyak Denizli Cimento to 60%

Taiwan Cement Corp agrees to buy additional 20% from Oyak Denizli Cimento taking over majority of company increasing its stake to 60%, according to emailed statement.

• Deal sets enterprise value of Oyak Denizli Cimento at 1.3 billion euros
• OYAK is also selling its 60% stake in Cimpor Portugal Holdings to Taiwan Cement, which sets enterprise value of Cimpor Portugal at 800 million euros
• Companies are expected to sign deal by Dec. 8
• READ: Taiwan Cement Expected to Take Control of Turkey’s Oyak Cement

To contact the reporter on this story:
Asli Kandemir in Istanbul at akandemir@bloomberg.net

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