|
Related Companies
|
[CIMSA]
|
||||||||
|
Related Funds
|
[]
|
||||||||
|
|
|||||||||
|
English
|
|||||||||
|
oda_MaterialEventDisclosureGeneralAbstract|
|
|
||||||||
|
oda_UpdateAnnouncementFlag|
|
|
Evet (Yes)
|
|||||||
|
oda_CorrectionAnnouncementFlag|
|
|
Hayır (No)
|
|||||||
|
oda_DateOfThePreviousNotificationAboutTheSameSubject|
|
|
01.10.2020
|
|||||||
|
oda_DelayedAnnouncementFlag|
|
|
Hayır (No)
|
|||||||
|
oda_AnnouncementContentSection|
|
|
||||||||
|
oda_ExplanationSection|
|
|
||||||||
|
oda_ExplanationTextBlock|
|
In the public disclosure statement dated 01.10.2020, it has been announced that the financial capabilities of Sabancı Holding and the operational competence of our subsidiary Çimsa Çimento Sanayi ve Ticaret A.Ş. (Çimsa) would be combined within the structure of Cimsa Sabanci Cement BV (CSC BV) to create an efficient and strong platform abroad in order position Sabancı Group as the leader in the global white cement trade.
The incorporation procedures of CSC BV, in which Sabancı Holding and Çimsa respectively owns 60% and 40% stake, were completed on 16.11.2020. Subsequently, the shares of Çimsa's subsidiaries that undertake the overseas white cement operations abroad have been sold to CSC BV; and Buñol White Cement Plant has been acquired by Cimsa Cementos Espana S.A.U., which is wholly owned subsidiary of CSC BV, for consideration of USD 155,200,905.21 after the adjustments made as per the contract on 09.07.2021.
Sabancı Holding hereby announces that the restructuring process initiated to gather Sabancı Group's overseas white cement investments within the structure of CSC BV was completed, and that CSC BV started its operations.
In case of a discrepancy between the Turkish and English versions of this public disclosure statement, Turkish version shall prevail.
|
||||||||