Semapa suggest holding company to avoid sale of Cimpor

It has emerged that Portuguese group Semapa has presented a project to the Portuguese Securities and Exchange Commission (CMVM) to create a holding company that will consolidate, under its umbrella, stakes owned by Portuguese groups in the national cement company Cimpor.
April 11, 2012 Read time: 1 min

It has emerged that Portuguese group Semapa has presented a project to the Portuguese Securities and Exchange Commission (CMVM) to create a holding company that will consolidate, under its umbrella, stakes owned by Portuguese groups in the national cement company 1347 Cimpor.

Reports claim that this is a strategy put in place by 4425 Semapa to avoid a share purchase offer made by Brazilian group 3718 Camargo Correa for a controlling stake in Cimpor.

The Portuguese shareholders in Cimpor include Caixa Geral de Depositos (CGD) and the BCP's pension fund trust, which hold a 19.6% stake. Both shareholders have already announced that they are interested in selling their stakes in the cement company. A further 10.7% stake in Cimpor is controlled by Portuguese businessman Manuel Fino.

The three shareholders are yet to announce whether they will join Semapa to and create the holding company.

For more information on companies in this article

Related Content

June 28, 2012

Cimpor appoints a new chief executive and schedules general assembly

Portuguese cement company Cimpor has appointed Ricardo Lima as its new chief executive. Lima is taking over from Francisco Lacerda and after leaving his position as vice-president of InterCement (Camargo Correa). The appointment comes after Camargo Correa assumed control of Cimpor. The Brazilian industrial group is also keeping seven of Cimpor's administrators and nominating eight new members.

boombox1

Highlighted Content

boombox2