Portugal Madeira to sell stake in Cimentos Madeira

Portugal Madeira to sell stake in Cimentos Madeira
Published: 20 January 2005

The Regional Government of Portugal’s autonomous region of Madeira Island plans to sell its entire 8.0 per cent stake in the regional cement company Cimentos Madeira in 2005, it was reported on January 18, 2005.  The Cimentos Madeira sale was announced two years ago and is planned to be the only sale made by the regional government in 2005.  According to the regional 2005 budget, Madeira will receive a total 11 mln euro ($14.34m) from sales of stakes in the share capital of regional companies. The government owns shares in 35 regional companies operating mainly in the cement, communication, beverage and milk products industries. The nominal value of the total number of shares rounds 90 mln euro ($117.29m).