UPDATE 1-Brazil's Camargo says buys 6.5 pct more in Cimpor

SAO PAULO Feb 11 (Reuters) - Brazil's construction firm Camargo Correa said on Thursday that it bought an additional 6.5 percent stake in Portuguese cement-maker Cimpor (CPR.LS).

Sao Paulo-based Camargo Correa, a construction and industrial group, agreed to buy the stake from Spanish steel-maker Bipanosa at a price of 6.5 euros per share, the company said in a statement.

Camargo Correa, which already had a 22 percent stake, did not disclose exactly how many shares it bought. Camargo is in talks to buy an additional 3 percent stake in the Portuguese company. It did not name the sellers.

"The investment is in line with the strategy of building a position that will allow Camargo Correa Cement to be an active part in building the future of Cimpor," Camargo said.

Under Portuguese takeover law, a company can hold a stake of up to 33 percent in another one without being obliged to make a takeover bid. If the stake is larger than that, a bid must be presented.

Cimpor is the target of a takeover bid by CSN (CSNA3.SA), Brazil's third-largest steel maker, which launched a 3.86 billion euro ($5.32 billion) offer in January. A third Brazilian company, Votorantim Cimentos, acquired a 17 percent stake in the firm from France's Lafarge. [ID:nLDE60C1TU]

CSN, which last year launched a cement unit, has until Friday to sweeten its 5.75 Euro-per-share bid for Cimpor, unveiled in late December. (Reporting by Cesar Bianconi; Writing by Raymond Colitt; Editing by Gary Hill)