Cimpor buys stakes in Cimentacor, Betao Liz, Sells Cimentos Madeira
Cimpor announced on June 6, 2007 that it had completed the acquisition of local construction material plants Cimentacor - Cimentos dos Acores and Betao Liz from its peer Secil for a total EUR11.64m.
Secil, in turn, became owner of the entire stake in Cimentos Madeira after acquiring Cimpor’s stake in it for some EUR6m.
In a regulatory filing, Cimpor noted that through its wholly owned subsidiary Cimpor Betao, it had acquired from Secil 33.37 per cent of the share capital of Betao Liz, paying some EUR9.3m. With this acquisition Cimpor Betao now holds 99.81 per cent of the share capital of Betao Liz.
Cimpor noted also the acquisition of a 25 per cent stake in the share capital of Cimentacor. The acquisition was carried out via its wholly owned subsidiary Cimpor – Industria de Cimentos. The value of the transaction stood at EUR2.4m.
Cmpor also sold a 42.86 per cent stake in the share capital of Cimentos Madeira.
Published under Cement News
