Cimpor
Carmago Corrêa, with its agreements to acquire the interests of Teixeira Duarte and Atlansider, has obtained the largest direct stake in Cimpor with 28.3%, though Votorantim, with a 21.2% stake has entered in a shareholders' agreement with Caixa Geral de Depositos, which gives 30.8% of the votes to the consortium. Steel producer maker CSN has failed in its efforts to establish a controlling stake and has withdrawn its increased bid of €6.18 per share. However option agreements between Manuel Fino, who controls 10.7% of the Cimpor equity, and Caixa Geral de Depositos could alter the balance. Banco Comercial Portugues and its pension fund, with 10% of the equity, has still to declare its hand.
