Businessman Joe Berardo targets stake hike in Cimpor

Businessman Joe Berardo targets stake hike in Cimpor
Published: 01 February 2008

Portuguese businessman Joe Berardo has acquired an almost one per cent stake in Cimpor and is targeting hiking his stake in the cement maker. 
 
’I already have almost one per cent of Cimpor, and am always looking for a good deal and the shares are cheap right now,’ Berardo said in the interview.  
 
Berardo sold a 4.5 per cent stake in Cimpor in February 2006, and last summer saw his offer to buy Banco Comercial Portugues’ 10 per cent stake in the cement maker reject by the bank, the paper reported.  
 
Tuning to the cimpor stake held by BCP, the bank in which Berardo holds seven per cent, Berardo said the bank ’does not currently need to sell its Cimpor stake’.