Semapa To Receive sizeable capital gain

Semapa To Receive sizeable capital gain
Published: 24 March 2004

Portuguese cement group Semapa is expected to pocket a capital gain of some Euro 50m from the sale of its 45.126 per cent stake in Portugal’s cement producer Secil, it was reported on March 23, 2004.  Semapa will sell the stake for Euro 372m  to Irish industrial and trade group CRH in a deal announced on March 22, 2004. The Portuguese cement group acquired earlier a 41.6 per cent stake in Secil offered for sale from the Danish engineering groups FLS Industries and Hojgaard Holding for Euro 304m. Semapa originally offered for sale only the stake bought from the Danish companies. Apart from CRH, the other shortlisted companies competing for the stake were Brazilian industrial conglomerate Votorantim and Italian diversified holding company Caltagirone.