Cementos Portland books capital gain from stake swaps, Spain

Cementos Portland books capital gain from stake swaps, Spain
Published: 28 February 2013


Spain-based cement producer Cementos Portland Valderrivas has booked a capital gain of EUR115.6m following the asset swap of its shareholding in Cementos Lemona for Cementos Uniland with CRH.

The capital gain was divided into two lots: the first, totalling EUR100m, came from the exchange of the shares owned by Portland in Lemona for a 26.3 per cent stake in Uniland.

The other EUR15.6m came from the sale of Cementos Portland's 100 per cent ownership in the capital of UK cement terminal Southern Cement in the UK to CRH. The deal was valued at EUR 22.5 million.

(Original article abstracted from Expansion).