CMVM restarts investigation of Cimpor Purchase

CMVM restarts investigation of Cimpor Purchase
14 August 2008

Portugal’s stock market regulator CMVM decided to start again the investigation of the possible coordination between shareholders of local  producer Cimpor from 2001 when construction group Teixeira Duarte took the management control over the company.
The new investigation is included in the agenda of the management council of CMVM for the second half of the year, the president of CMVM, Carlos Tavares specified on August 12, 2008. The specialists will look for new information about the acquisition process, he added.
The restart of the investigation follows a request presented at CMVM by Portuguese construction group Semapa, which lost the fight for the control of Cimpor almost seven years ago.
At that time, after profound analyses CMVM concluded that there were no facts about a coordination of shareholders of Teixeira Duarte, Portuguese commercial bank Millennium bcp (BCP) and French cement giant Lafarge between them or with shareholders of Cimpor.
As a consequence of that CMVM decision, Teixeira Duarte was not obliged to launch a takeover bid for the acquisition of Cimpor.
Published under Cement News