Heidelberg Materials doubles stake in Turkish cement producer, gains majority control

Heidelberg Materials has agreed to acquire Sabanci Holding's 39.72% stake in Turkish cement producer Akçansa, doubling its shareholding to 79.44%, gaining majority control and significantly strengthening its strategic positioning in Turkey, the Mediterranean basin and other key markets.

The transaction strengthens Heidelberg's footprint in Turkey's Marmara region, which accounts for about 70% of the country's economic output, and provides coastal access to scale up international shipments, the Germany-based building materials group said April 20.

Akçansa operates three cement plants, 26 ready-mixed concrete plants, five aggregate quarries, and five cement terminals across five seaports in the Marmara, Aegean, and Black Sea regions.

"Majority ownership allows us to unlock Akçansa's full operational and strategic potential," said Hakan Gurdal, a member of Heidelberg's managing board responsible for Africa-Mediterranean-Western Asia. "With full consolidation, we can accelerate our growth by enhancing our decision-making, improving competitiveness, and expanding our role as a key supplier to both domestic and global export markets."

The deal aligns with Heidelberg's strategy to strengthen its position in core markets with long-term growth potential, said Dominik von Achten, chairman of the managing board. Turkey's geographic location provides exposure to future reconstruction and infrastructure demand in the neighboring Middle East and Black Sea regions, the company said.

Akçansa's integrated operations and port facilities will enable Heidelberg to dynamically allocate cement volumes between domestic markets in Turkey and international destinations.

The transaction requires regulatory approvals. Upon completion, Heidelberg will comply with applicable capital markets law requirements, the company said.

Platts, part of S&P Global Energy, assessed ordinary Portland cement (CEM I 42.5R) (bulk) at $54/mt CEMDEX Turkey on April 16, while cement clinker (OPC grey clinker) was assessed at $46.50/mt, both stable week over week.