Semapa’s Secil cement unit seeks full control of Cimentos da Madeira

Semapa’s Secil cement unit seeks full control of Cimentos da Madeira
Published: 28 March 2007

Secil, the cement division of Semapa SGPS, wants to acquire full control of cement maker Cimentos da Madeira, according to a press release on the Portuguese competition authority website.

The AdC said that it received on Jan 30 a notification regarding the acquisition by Secil of Madeira-based Cimentos da Madeira.

According to press reports, Secil and Cimpor reached an agreement early this year to exchange assets in the Portuguese island regions of Azores and Madeira.

Under the deal, Secil will acquire 57 per cent in Cimentos da Madeira after buying a 43 per cent stake from Cimpor, local press have said. Meanwhile, Cimpor will buy a 25 per cent stake from Secil in Cimentacor to control 100 per cent of that company. Secil will also sell 33.4 per cent of Betao Liz to Cimpor, which will control 100 per cent of the company, according to the reports.