British Fund buys stake in Spanish Cementos Portland

British Fund buys stake in Spanish Cementos Portland
Published: 13 April 2005

British investment fund Centaurus Alpha Master Fund bought 1.029 per cent in Spanish cement maker Cementos Portland Valderribas SA (Cementos Portland), sources from Spanish stock market said on April 12, 2005.  The stake is estimated at EUR 14.57m based on current market prices.

Centaurus Alpha Master Fund bought a total 286,413 shares in Cementos Portland. The cement maker is 58.76 per cent owned by Spanish construction and services group Fomento de Construcciones y Contratas SA (FCC). Cementos Portland posted an attributable profit of EUR 116.1m for 2004, a 21.8 per cent YoY decrease, partially due to the depreciation of the dollar against the euro.