Lafarge denies sale of stake to Correa

Lafarge denies sale of stake to Correa
Published: 03 February 2010

Lafarge denied press reports that it sold its 17.3% stake in Cimpor to Brazilian construction group Camargo Correa.

News that Camargo Correa and Lafarge had reached a deal was reported in 14 Jan 2010 edition of Portuguese daily Diario Economico. Cimpor on 13 Jan 2010 received a merger proposal from Camargo Correa.

The offer depends on the Brazilian company initially acquiring between 15% and 20% of Cimpor. Camargo proposed to control less than 50% of the merged company.

 Cimpor, on second week of Jan 2010, rejected a EUR 3.86 bn takeover bid from Brazilian steelmaker Companhia Siderurgica Nacional, or CSN.