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| Cementos Portland Valderrivas completes 202 mln euro equity issue Cementos Portland Valderrivas, the largest Spanish-owned cement producer, has successfully completed a 202 million euro equity issue, which was fully subscribed. The core shareholder, Spanish construction giant FCC, subscribed all of the shares to which it was entitled (approximately 69%) and the market took up the remainder. The success of the transaction is evidenced by the fact that the other shareholders applied for 2.9 million shares more than they were entitled to under the pre-emptive right. The issue, plus the sale of Cementos Portland Valderrivas assets in Argentina and Uruguay for 137 million euro, rounds out a set of measures to strengthen the company's balance sheet and financial structure by reducing net debt, thus contributing to an improvement in the financial ratios and enabling the company to adapt to its current situation and look to the future. write your comments about the article :: © 2009 Construction News :: home page |