Teixeira Duarte controls sizeable Cimpor stake

Teixeira Duarte controls sizeable Cimpor stake
Published: 08 July 2005

Cimpor said bourse regulator CMVM has ruled that construction company Teixeira Duarte SGPS controls 22.65 per cent of the cement maker’s capital and 22.78 per cent of voting rights as of July 4.  The ruling follows the acquisition on July 4 of 13.45 million shares, corresponding to 2.01 per cent of voting rights, by Teixeira Duarte unit TDCIM - SGPS, Cimpor said in a statement. 
 
However Teixeira Duarte disagrees that shares held by directors of group companies Teixeira Duarte Engenharia e Construcoes SA and TDG - SGPS SA should count towards the total controlled by the group, the statement added.  These shares amount respectively to 0.07 per cent and 0.01 per cent of capital, it said. 
 
Cimpor has recently been the target of takeover speculation after shareholders voted to scrap a 10 per cent ceiling on shareholders’ voting rights. That move was instigated by French cement maker Lafarge SA.