Camargo Completes Cimpor Takeover

Camargo Completes Cimpor Takeover

Brazil Europe M&A

Brazil’s Camargo Correa has completed the takeover of Portugal's Cimpor, ending up with 94.8% of the cement maker at the close of a public offer period, Cimpor says. The successful bid concludes a process started in March when Camargo Correa, starting with a 33% stake, bid for the rest, offering up to $2.5bn ($1.97bn), at EUR5.50 per share. At the time of the offering, Camargo’s InterCement unit planned, if successful, to unify all of its cement operations under Cimpor. InterCement would first t

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