Valderrivas confirms Uniland stake

Valderrivas confirms Uniland stake
Published: 09 August 2006

Cementos Portland Valderrivas has now acquired 50.5 per cent of fellow cement group Corporacion Uniland on Friday for Euro 1.092bn. CementosPortland Valderrivas, a subsidiary of construction and services group FCC, already owned a 0.5 per cent stake in the company through its own subsidiary, Portland. The acquisition comes with a call option for 22.5 per cent.

The operation possibly makes Valderrivas the largest cement group in Spain, ahead of Cemex and Holcim, with an estimated production capacity of 11.8Mt and a market share of 24 per cent.