Portuguese Cimpor still wants to sell C+PA

Portuguese Cimpor still wants to sell C+PA
Published: 01 September 2009

Cimpor still wants to sell its 48% stake in C+PA after the failure of the sale agreement with builder Teixeira Duarte in May.

Teixeira Duarte is the holder of the other 52% in C+PA.

C+PA holds cement assets and a shareholding in commercial bank Millennium bcp.

Cimpor included the stake in C+PA among the assets for sale in its report for the first-half earnings presented this week. C+PA had a negative effect of EUR4.249m (USD6.1m) on Cimpor’s results for the period.

Cimpor did not give information on the value of C+PA. In May, however, it was expecting to receive EUR47.2m for its 48% in the company from Teixeira Duarte.