Cimpor sells Semapa stake

Cimpor sells Semapa stake
Published: 01 November 2005

Portuguese cement company Cimpor Cimentos De Portugal said Monday it has sold its remaining 20 per cent stake in rival Semapa for EUR144m.  Cimpor said it sold the 23.7 million shares in an over-the-counter deal at a price of EUR6.07 a share.  The company didn’t identify the buyer, or buyers, of the Semapa stake, but earlier, on Monday, Credit Suisse First Boston Corp said it would issue a convertible bond based on Semapa shares it had bought from Cimpor.  CSFB said its notes are expected to carry a coupon of 1.875-2.375 per cent, and will be redeemed at par on May 29, 2009.  Closing and settlement for the notes are expected to take place on or around Nov. 24.  Application will be made to list the notes on the Irish Stock Exchange. Semapa shares are listed and traded on Euronext Lisbon.