Cementos Portland debt increases

Cementos Portland debt increases
Published: 19 December 2005

The regulator for the Spanish stock exchange, the CNMV, has revealed that as a result of the takeover bid launched by Spanish cement group Cementos Portland Valderrivas on December 2 for cement manufacturer Cementos Lemona, the debt of the new group would stand at Euro 466m. Cementos Portland, a subsidiary of leading Spanish construction and services group FCC, offered Euro 32 per share, bringing the total value of the bid to Euro 248.3m.
 
As a result of the takeover, the success of which is guaranteed given the support of Lemona’s reference shareholder, Portugal’s Cimpor, Cementos Portland Valderrivas will form the second-largest cement group in Spain, with 17.3 per cent of the market and annual production of 8.2Mt.