Camargo places offer for the stake of Lafarge in Cimpor

Camargo places offer for the stake of Lafarge in Cimpor
Published: 02 February 2010

Camargo Correa has delivered to Lafarge its proposal to purchase a 17% stake on Cimpor for which it would pay cash, reports  Brazil Economico.

Figures were not disclosed and the move is seen as the base for a strategy to close in on the Portuguese cement major.

The paper reported that Camargo could stay as the second largest shareholder in Cimpor, wait for the outcome of CSN’s offer for the assets; then launch a competing offer for Cimpor.