Brazilian producer InterCement has sold a 52 per cent stake in Portuguese cement and building materials maker C+PA to Votorantim.

Portuguese construction group Teixeira Duarte still controls 48 per cent in C+PA, , according to Portuguese daily Diario Economico.

InterCement, part of Brazilian diversified holding group Camargo Correa, indirectly controls the stake in C+PA via Portuguese cement producer Cimpor.

Cimpor recognised impairments of EUR33.6m with the transaction.

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