# TCC to increase stake in OYAK Cement via Cimpor and Denizli Cement deals

Taiwan Cement Corporation (TCC) and OYAK have signed a preliminary agreement for TCC to acquire OYAK's 60% stake in Cimpor Portugal Holdings for EUR 800 million and 100% of OYAK Denizli Cement shares for EUR 1.3 billion, plus 20% of OYAK's 60% shares in OYAK Denizli Cement.

- Type: Acquisition
- Announced: 2023-11-27
- Where: Türkiye
- Value: $2.29B (2.10B EUR)
- Status: announced
- Products: cement
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [Taiwan Cement](https://endata.com/companies/28068.md) (acquirer)
- [OYAK Cimento AS](https://endata.com/companies/35150.md) (partner)
- [OYAK Cimento AS](https://endata.com/companies/35150.md) (target)
- [OYAK](https://endata.com/companies/35208.md) (target)
- [Denizli Çimento](https://endata.com/companies/44047.md) (target)
- [OYAK Çimento Fabrikaları](https://endata.com/companies/52969.md) (target)
- [Cimpor Portugal](https://endata.com/companies/71363.md) (target)
- [OYAK Denizli Cement](https://endata.com/companies/73998.md) (target)
- [OYAK Denizli Çimento](https://endata.com/companies/74020.md) (target)
- [Cimpor Portugal Holdings SGPS](https://endata.com/companies/74366.md) (target)
- [Ordu Yardimlasma Kurumu (OYAK)](https://endata.com/companies/74367.md) (partner)

## Sources

- [oyak.com.tr](https://oyak.com.tr/en/oyak-group-companies/company-news/renewed-giant-partnership-between-oyak-and-tcc-for-the-low-carbon-cement-market-in-europe-asia-and-africa), 2023-11-27: "OYAK and Taiwan Cement Corporation (TCC) have entered into a preliminary agreement to advance their partnership, aligning with the vision of sustainable growth and carbon emissions reduction."
- [globalcement.com](https://www.globalcement.com/news/17276-taiwan-cement-corporation-to-acquire-new-20-stake-in-oyak-denizli-cimento), 2023-11-28: "Taiwan-based Taiwan Cement Corporation (TCC) has signed a preliminary memorandum of understanding (MoU) with OYAK Çimento."
- [sullcrom.com](https://www.sullcrom.com/About/News-and-Events/Highlights/2023/December/S-C-Advises-Taiwan-Cement-Corporation-in-Raising-Stakes-in-Turkey-and-Portugal-Enhancing-Its-International-Eco-Friendly-Positio), 2023-12-12: "The deal represents a further deepening of the cooperation between TCC and OYAK which began in 2018."
- [cemnet.com](https://www.cemnet.com/News/story/176072/taiwan-cement-completes-share-agreement-for-denizli-imento.html), 2023-12-13: "Taiwan Cement Corp has finalised its agreement with OYAK Çimento to acquire a further 20 per cent stake in Denizli Çimento,Turkey."

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