HeadlinesBriefing favicon HeadlinesBriefing.com

Heidelberg Cement Eyes Full Control of Turkish JV

Bloomberg Markets •
×

German building materials giant Heidelberg Materials AG is seeking to double its stake in Akcansa Cimento AS, Turkey's publicly listed cement producer, according to people familiar with the matter. The move would give Heidelberg majority control of the joint venture and help the company ward off potential rival bidders.

Heidelberg currently holds a significant minority stake in Akcansa through its partnership with Turkey's Sabanci Holding. By increasing its ownership, Heidelberg aims to consolidate its position in the Turkish cement market and strengthen its regional presence. The joint venture has been a key part of Heidelberg's strategy in emerging markets.

The potential acquisition comes amid consolidation in the global cement industry, where major players are seeking to expand their geographic footprint and achieve economies of scale. For Heidelberg, gaining full control of Akcansa would provide greater operational flexibility and strategic advantages in Turkey's growing construction sector.