Camargo Says Has No Cimpor Pact With Votorantim, Jornal Reports

Camargo Correa SA said it has no agreement with Votorantim Cimentos SA about Cimpor-Cimentos de Portugal SGPS SA, Jornal de Negocios reported, citing Jose Edison, president of Camargo’s Intercement unit.

The possibility of an agreement in the future is not ruled out, the Portuguese newspaper said.

Camargo Correa, a Brazilian cement producer and the biggest investor in Cimpor (CPR), on March 30 offered 2.48 billion euros ($3.3 billion) through its Intercement unit to buy the 67 percent of the Portuguese company it doesn’t already own. Votorantim, another Brazilian company, is also a shareholder in Cimpor.

Camargo’s offer will be financed by Brazilian banks Banco Bradesco SA (BBDC4), Banco Itau BBA and Banco do Brasil SA (BBAS3), Edison said, according to Negocios.

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