Analysts see two new drivers for Cimpor’s stock

Analysts see two new drivers for Cimpor’s stock
10 December 2009

Market analysts see two new drivers for the stock of Portuguese cement producer Cimpor they said yesterday.

According to the specialists, the current instability in the shareholders structure of the company as regards to its management and the interest of Brazilian real estate group Camargo Correa to enter the corporate capital will work as short-term drivers for the shares.

In the previous week, Cimpor announced that Bayao Horta will be both chairman and CEO in the company. The company considers that the integration of the posts of CEO and chairman will improve the collaboration between the board of directors and the executive committee in order to serve the interests of the company better.

The analysts also believe this measure will give stability to the shareholders’ structure of the company.

BPI estimated the interest by Camargo Correa as "positive" for the stock market performance of Cimpor.

In its Saturday edition, Portuguese weekly Expresso wrote that sources from Camargo Correa confirmed its intention to become a shareholder in Cimpor. Camargo Correa has already contacted some investors in Cimpor to check if they are ready to sell their stakes, the same sources added.
Published under Cement News