Titan Group announced the completion of his disinvestment strategy, which involved the sale of his 75% stake in Adocim Cémento Beton Sanayi Ve Ticaret.
The transaction, which was initially disclosed on February 19, 2025, received all customary regulatory approvals. It includes cement assets in eastern Turkey.
The shares were divided, 50% going to Mugla Cimento Sanayi Ve Ticaret and the remaining 25% in Yurt Cimento Sanayi Ve Ticaret.
Following this transaction, Titan will receive a total cash product of $ 87.5 million.
The group said that it would maintain its operations to grinding cement and additional cement assets in other regions of Turkey.
This disinvestment aligns with the wider Titan strategy to optimize its portfolio and explore new reinvestment opportunities.
The assets involved in the sale included an integrated cement factory and a cement terminal, as well as a related infrastructure. The employees associated with these operations will be part of the transition, ensuring the continuity of customers and stakeholders.
Post-transaction, Titan, directly or through its subsidiary Titan Cement Company, holds shares representing 4.78% of its voting rights.
Titan Group is an international company operating in the building and infrastructure materials industry.
The group, with a workforce greater than 5,700 employees, has a presence in more than 25 countries, occupying major market positions in the United States and Europe. The company is committed to making a clean carbon footprint by 2050.
“Titan ends the disinvestment of 75% share in Adocim Cimento” was created and published by Global construction networkA brand belonging to GlobalData.
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