# Titan Cement to acquire IFC's minority stakes in Egypt and Southeast Europe for EUR 81.8M

Titan Group agreed to acquire the International Finance Corporation's minority stakes in all of Titan's subsidiaries in Egypt and Southeast Europe for EUR 81.8 million, including IFC's 17.28% stake in Alexandria Development Ltd., which holds 88.93% of Alexandria Portland Cement.

- Type: Acquisition
- Announced: 2019-11-25
- Where: Egypt
- Value: $90.0M (81.8M EUR)
- Status: announced
- Products: cement
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [International Finance Corporation](https://endata.com/companies/12849.md) (target)
- [Titan Group](https://endata.com/companies/32935.md) (acquirer)
- [Alexandria Portland Cement](https://endata.com/companies/43487.md) (target)

## Sources

- [enterpriseam.com](https://enterpriseam.com/egypt/2019/11/25/titan-cement-to-acquire-ifc-stakes-in-egypt-southeast-europe-businesses/), 2019-11-25: "Cement producer Titan Group has agreed to acquire the International Finance Corporation’s minority stakes in all of Titan’s subsidiaries in Egypt and Southeast Europe in a EUR 81.8 mn transaction."
- [enterpriseam.com](https://enterpriseam.com/egypt/2019/12/09/titan-group-agrees-to-launch-mto-for-100-of-alexandria-cement/), 2019-12-09: "Titan had acquired Alexandria Cement’s parent company, Alexandria Development, which made it an indirect majority owner through a related party and therefore triggered an MTO requirement."

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.