Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Cimpor Shares Decline After Camargo Gains Control: Lisbon Mover

Don't Miss Out —
Follow us on:
Cimpor Shares Decline After Camargo Gains Control
Bags of concrete sit in crates at the Cimpor factory in Alhandra. Photographer: Mario Proenca/Bloomberg

June 21 (Bloomberg) -- Cimpor-Cimentos de Portugal SGPS SA, the country’s biggest cement company, dropped the most in more than nine months after Camargo Correa SA gained control of 94.8 percent of the company.

The Brazilian cement maker raised its stake in the company after offering 5.50 euros a share on March 30 to buy the rest of Cimpor it didn’t already own.

The stock declined 4.7 percent to 5.19 euros in Lisbon trading, the most since September. The shares will be excluded from Portugal’s PSI-20 benchmark index tomorrow, Euronext said in a statement yesterday.

Camargo hasn’t decided whether to remove Cimpor from trading in Lisbon, Jose Edison, president of Camargo’s Intercement unit, said yesterday at a presentation at the Lisbon exchange.

To contact the reporter on this story: Anabela Reis in Lisbon at areis1@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.