Cement maker CRH and its Turkish partner Eren Holding have applied to Turkey's competition regulator to sell their joint venture Denizli Cimento to army pension fund OYAK Group.
This is according to the website of the country's competition regulator.
CRH and Istanbul-based Eren each hold a 50% stake in Denizli. OYAK Group has interests from steel to cement. No price was given for the disposal.
As part of its ambitious plan to become one of the world's ten biggest economies by 2023, Turkey plans to invest $100 billion in infrastructure projects in the next four years.
CRH has embarked on a disposal plan under new chief executive Albert Manifold and plans to sell at least 10% of its net assets, or between €1.5 billion and €2 billion worth.
