Portland takeover of Lemona approved

Portland takeover of Lemona approved
Published: 16 January 2006

Spanish cement group Cementos Portland Valderrivas’ takeover bid for rival group Cementos Lemona has been authorised by Spanish competition authorities.  Portland Valderrivas already controls 30.7 per cent of Lemona and has launched a bid of Euro 32 per share to raise its stake to 100 per cent. The purchase would require a maximum outlay of Euro 248.3m.