Camargo Corrêa in Cimpor bid

Camargo Corrêa in Cimpor bid
Published: 06 April 2012


Camargo Corrêa and Brazilian competitor Votorantim Cimentos SA bought separate stakes in Cimpor in early 2010. Camargo currently claims to hold around a 33.25% stake in Cimpor and is its largest shareholder ahead of Votorantim with a current 21.2% interest, but has an option to increase this to 30.8%. Votorantim is reportedly considering teaming up with Camargo for a joint bid, although the latter denies that any such agreement has been made. Given Votorantim’s dominant market share in Brazil, it is unlikely to be allowed to buy Cimpor’s interests it may well insist on acquiring some of Cimpor’s operations in other countries as its price for accepting the Camargo bid.













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