Cimpor sells 48% in C+PA to Teixeira Duarte

Cimpor sells 48% in C+PA to Teixeira Duarte
Published: 21 May 2009

Portuguese cement producer Cimpor agreed to sell 48% in C+PA to local builder Teixeira Duarte for EUR 47.2m (US$65.7m), Cimpor informed on Thursday in a filing to the national bourse regulator CMVM.

As part of the same deal, Cimpor will withdraw from the 2.18% stake in Portuguese commercial bank Millennium bcp (BCP) through C+PA. This stake in BCP brought a loss of some EUR 77m for Cimpor at the end of 2008.

In the meantime, Cimpor will buy 25% in Cimpor Macau and 48.6% in Arenor Lda, currently controlled by C+PA. Cimpor will pay EUR54.4m for the two acquisitions.