Pursuits
Oyak Eyes Holcim, Lafarge Assets With $2 Billion for Purchases
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Oyak Group, Turkey’s military pension fund, has $2 billion in cash for acquisitions and may spend some of it on assets from cement makers Holcim Ltd. and Lafarge SA.
Oyak is interested in Holcim and Lafarge businesses in countries including Romania, Serbia and Hungary, Celal Caglar, head of the cement and automotive unit of the Ankara-based company, said in an e-mailed statement. Oyak, the largest cement producer in Turkey, completed the purchase of Denizli Cimento from CRH Plc and Eren Holding AS for a price between $400 million and $450 million on Nov. 10.