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| Cementos Portland Valderrivas Launches A Takeover Bid For 100% Of Cementos Lemona Cementos Portland Valderrivas filed a request with the National Securities Market Commission (CNMV) to launch a public takeover bid for 100% of Cementos Lemona. The leader of the FCC Group's cement business, which already controlled 30.719% of the Basque company, launches the offer after reaching an agreement with the Portuguese group Cimpor, the second largest shareholder in Lemona with 19.31%, whose shares are held in the name of Corporación Noroeste, S.A. Under the agreement, Cimpor undertakes to accept the offer. Cimpor would only be released from is commitment if Cementos Portland Valderrivas were to withdraw the offer or in the event of a cash offer at least 15% higher than the price finally offered by Cementos Portland Valderrivas. Once the operation is authorised by the stock market supervisory authorities, Cementos Portland Valderrivas will launch an offer to purchase 100% of Lemona's share for a price of 32 euros per share. If accepted in its entirety, the operation will be valued at 248.3 million euros, which will be paid in cash and financed by debt. write your comments about the article :: © 2005 Construction News :: home page |