Cimpor in talks to sell 26 per cent stake in South African unit

Cimpor in talks to sell 26 per cent stake in South African unit
Published: 08 December 2006

Cimpor is in talks to sell a 26 per cent stake in fully owned South African unit Natal Portland Cement, Pieter Strauss, the subsidiary’s managing director. 
 
The deal, which is expected to be finalized by the end of the year, will be worth about ZAR756m, or about EUR80.158m, according to the report.  
 
Strauss said talks with potential buyers are in the final stages, though the names of companies could not yet be made public.  
 
Cimpor would retain a 74 per cent stake in Durban-based NPC-Cimpor, the new name for the company.