Cimpor to have four Brazilians on board

Cimpor to have four Brazilians on board
Published: 15 April 2010

The management board of Portuguese cement maker Cimpor should have four Brazilians, two coming from construction group Camargo Corrêa and two others from industrial conglomerate Votorantim, Cimpor said Wednesday in a filing with Portuguese stock-market regulator CMVM.

Cimpor was in recent months the target of a heated bidding race among three Brazilian companies.

Steel major CSN was the first to make a takeover offer for Cimpor, but its move was rejected, and Camargo and Votorantim ended up buying stakes of 32% and 22% in the Portuguese company respectively.