SibCem applied on 16 May 2008 to the Turkish Competition Board (the “Board”) for the approval of the transfer of (i) 76.51% of the shares in Afyon Çimento, (ii) 100% of the shares in Set Group HoldingA.Þ. and (iii) 100% of the shares in Set Beton (hereinafter collectively referred to as the “Target Companies”) owned by Ciments Français (the “Transaction”). Following the completion of the Transaction, the control of Afyon Çimento, Set Group Holding A.Þ. (and indirectly, the control of Set Çimento San. ve Tic. A.Þ. and Met Teknik Servis ve Madencilik Sanayi A.Þ. owned by Set Group Holding A.Þ.) and of Set Beton, consequently the control of cement and ready-mixed concrete facilities operating within the scope of the Target Companies will shift to the sole control of SibCem.
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