Brazil’s CSN in US$5.6bn bid for Cimpor

Brazil’s CSN in US$5.6bn bid for Cimpor
Published: 18 December 2009

Brazil’s steel maker Companhia Siderurgica Nacional (CSN) has launched a takeover bid for Portuguese cement producer Cimpor (CPR.LS) worth about EUR3.86bn, Cimpor said on Friday.

Cimpor said CSN was offering EUR5.75  ($8.28) a share for all of Cimpor’s capital, or 672 million shares with a nominal value of 1 euro each.

"The offer is part of CSN’s business diversification and internationalization strategy. The acquisition of control in Cimpor will provide access to consolidated markets and new markets with a high growth potential," the statement said.