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Turkey's Oyak eyes cement acquisitions in Europe, Africa
April 9, 2014 / 12:15 PM / 4 years ago

Turkey's Oyak eyes cement acquisitions in Europe, Africa

ISTANBUL, April 9 (Reuters) - Turkey’s Oyak army pension fund is looking into acquisition opportunities in the cement sector, focusing on Europe, Africa and Britain, its cement group chairman Celalettin Caglar said on Thursday.

Caglar said the group was also interested in acquisition opportunities that could arise from the merger of Holcim of Switzerland and France’s Lafarge on Monday to create the world’s biggest cement maker.

Lafarge has said two-thirds of divestments as a result of the deal with Holcim are expected to affect Western Europe, but there are also overlapping operations in India, China, Canada and Brazil.

Reporting by Ceyda Caglayan; Writing by Ece Toksabay; Editing by Nick Tattersall

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