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.
Reports claim that this is a strategy put in place by Semapa to avoid a share purchase offer made by Brazilian group 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.
