Portuguese state-owned bank Caixa Geral de Depositos (CGD) has cut its stake in the share capital of local cement production group Cimpor to 1.74 per cent, according to a filing sent to the national bourse regulator CMVM on November 6, 2007.
The stake reduction resulted from various operations of Cimpor shares sale on the stock exchange on October 31, 2007. CGD sold a total 2,179,212 shares of the cement producer through these operations.
As a result of the sale, CGD currently controls directly and indirectly 11,689,741 Cimpor shares. The bank’s holdings in the company corresponded to 1.98 pct at end-2006.