Italy's Italcementi, the world's No.5 cement maker, has signed a deal to sell a significant portion of its Turkish activities to Limak Holding for 290 million euros.
In a statement on Friday, Italcementi said it would sell Turkey-based Set Group Holding, which generated sales of 130 million euros in 2010.
The agreement does not include Afyon Cimento, a Turkish listed group controlled by Italcementi unit Ciments Francais.
"In future, Italcementi will examine the best industrial or financial opportunities to extract value from this asset," Italcementi said of Afyon Cimento.
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