Cimpor Cimentos de Portugal SGPS SA: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
Provider: Sadif Analytics (Premium)
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Cimpor Cimentos de Portugal SGPS SA Updates on Asset Swap
Cimpor Cimentos de Portugal SGPS SA announced that following the corporate restructuring of Cimpor and asset swaps with InterCement Austria Holding GmBH, Cimpor presents the details of the swap process and of the new assets taken on by the international cement Group. The asset swap involved the following transfers. Cimpor assets transferred to InterCement: Cimpor assets in Spain (with exception of Cimpor Inversiones SA, Cimpor Trading SA and Cimpor Eco SL), Morocco, Tunisia, Turkey, India, China and Peru, as well as a 21.2% stake in Cimpor’s net debt. Although outside Cimpor’s corporate sphere, and according to information provided by InterCement, the latter later transferred the assets received from Cimpor to Votorantim in exchange for the stake the latter held in Cimpor (21.2%) thus increasing InterCement’s overall stake in Cimpor to 94.1%. In relation to this, InterCement also announced that the stake in Cimpor transferred in this transaction was valued at EUR 5.334 per share, totaling EUR 760 million, and therefore the EUR 57 million difference from the assets transferred from InterCement to Votorantim (EUR 817 million), will be paid by Votorantim to InterCement by the end of January 2013. InterCement assets transferred to Cimpor: InterCement’s cement, concrete and aggregate assets in South America (Brazil, Argentina an Paraguay) and in Angola – ie, 17 operating plants (including the grinding unit at Cubatao), one plant under construction and four in the design stages.
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