Spokesmen for Cimpor Portugal said Fundacao Joe Berardo sold 22m shares in the company on July 5, retaining 29,680,539 shares corresponding to 4.42 per cent of share capital and 4.45 per cent of the voting rights. At Friday’s closing price of Euro 4.55 per Cimpor share, the sale would have raised Euro 100m for Berardo.
Cimpor has been the subject of takeover speculation since shareholders voted in April to scrap the 10 pct limit on voting rights, at the instigation of French cement maker Lafarge. Berardo had previously been seen as a potential bidder.
