Heidelberg Materials takes 94.83 percent of Akcansa Cimento stock

Published on 10/19/2026 at 00:45 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Heidelberg Materials completed the offer at TRY 274.24 per share on October 6, 2026. Outside ownership of Akcansa Cimento stock fell to 5.17 percent.

Ownership and reporting milestones

Heidelberg Materials raised its Akcansa stake to 94.83 percent by October 6, 2026.
Akcansa reported TRY 13.7 billion in first-half sales and a TRY 96.4 million loss.
Third-quarter reporting is expected between October 26 and October 27, 2026.

Akcansa Cimento, TRAAKCNS91F3, Illustration mit AI erstellt.

Akcansa Cimento (ISIN TRAAKCNS91F3) now has a sharply concentrated ownership structure after Heidelberg Materials completed a mandatory tender offer on October 6, 2026. The offer price was TRY 274.24 for 100 shares, while Heidelberg's stake rose to 94.83 percent, according to KAP.

Three ownership milestones changed control

On June 18, 2026, Sabanci Holding transferred a 39.72 percent holding to Heidelberg Materials for USD 427.88 million. On September 23, 2026, the mandatory offer opened at TRY 274.24 per 100 shares. On October 6, 2026, the process ended after investors tendered 29.49 million nominal shares, lifting Heidelberg's holding to 94.83 percent, as Patronlar Dunyasi reported.

What does the ownership shift mean?

The immediate investor question is control rather than operating growth. Heidelberg now holds 94.83 percent, leaving 5.17 percent outside its ownership. That level remains below the 98 percent threshold described in the report for compulsory squeeze-out rights, so the tender offer changed control without eliminating the minority float.

Akcansa's operating figures add a counterweight to the ownership story. In the first half of 2026, sales reached TRY 13.7 billion, but the company reported a period loss of TRY 96.4 million. The figures show a wider gap between scale and profitability, according to 12punto.

October reporting is the next test

The next scheduled corporate date is third-quarter reporting expected between October 26 and October 27, 2026, according to RotaBorsa. For investors, the report will put the ownership transition beside fresh evidence on sales, earnings and cash generation.