Camargo Correa Details Cimpor Bid

Camargo Correa Details Cimpor Bid

Brazil Europe M&A

InterCement, the cement unit of Brazil’s Camargo Correa, plans to offer Votorantim Cimentos an asset swap to buy Votorantim out of Cimpor, and would also keep the Cimpor name if it gains the full control of Cimpor it seeks, InterCement says. Though InterCement is sticking to a EUR5.50 per share bid for Cimpor, implying a EUR2.4bn ($3.1bn) maximum price, it notes Cimpor would remain a Portuguese company, with the same brand. Noting that Cimpor’s ownership is fragmented, InterCement would unify al

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