# Taiwan Cement to take control of OYAK's cement business and fully acquire Cimpor

Taiwan Cement Corporation (TCC) agreed to increase its stake in the Türkiye joint venture with OYAK to 60% and fully acquire Cimpor in Portugal by purchasing OYAK's 60% stake, for a total of about EUR 740 million. A final agreement is expected in early December 2023.

- Type: Acquisition
- Announced: 2023-11-29
- Where: Türkiye
- Value: $810.0M (740.0M EUR)
- Status: announced
- Products: cement, ready-mixed concrete, aggregates, mortar, paper packaging
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [Taiwan Cement](https://endata.com/companies/28068.md) (acquirer)
- [Cimpor](https://endata.com/companies/31878.md) (target)
- [OYAK](https://endata.com/companies/35208.md) (partner)

## Sources

- [globalcement.com](https://www.globalcement.com/news/item/16640-taiwan-cement-heads-west), 2023-11-29: "companies that do not understand carbon will not survive in the future."
- [globalcement.com](https://globalcement.com/news/analysis/17289-taiwan-cement-heads-west), 2023-11-29: "companies that do not understand carbon will not survive in the future."

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