UPDATE 1-Ciments Francais in talks on Turk operations-bourse

Mon Feb 18, 2008 3:02am EST
 
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ISTANBUL, Feb 18 (Reuters) - Ciments Francais (CMFP.PA) has started talks with investors on options for its operations in Turkey, including a possible sale, the Istanbul Stock Exchange quoted the French cement maker as saying on Monday.

Ciments Francais, controlled by Italy's Italcementi (ITAI.MI), controls Afyon Cimento (AFYON.IS) in Turkey, with four integrated cement plants and 17 concrete plants.

Shares in Afyon Cimento jumped 8.9 percent to 1,280 lira after the announcement, while the main Istanbul share index was up 1.2 percent.

"Ciments Francais ... has started talks with domestic and foreign investors in connection with the shares which it holds in these companies," the Istanbul bourse quoted the French company as saying in a statement.

"Various opportunities are being considered, including a strategic sale option," it said.

Afyon Cimento produces, markets and distributes cement, clinker and other related products and is headquartered in Istanbul. It has four cement plants, located in Ankara, Afyon, Balikesir and Kirklareli.

Its sales amounted to 50.86 million lira ($43 million) last year. (Reporting by Daren Butler; Editing by Quentin Bryar)

 
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