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Brazilian steel producer launches bid for Cimpor

World Cement,

The Lisbon-based Cimpor group produces cement, hydraulic lime, aggregates and concrete products. Its total installed cement capacity is over 31 million tpa with a turnover of about US$ 3 billion. It has operations in Portugal, Brazil, Egypt, Spain, China, Turkey, South Africa, Tunisia, Morocco, India, Mozambique, Cape Verde and Peru.

CSN is one of the largest largest steel producers in Brazil and in terms of crude steel production one of the largest in South America. A spokesman for the company stated that the offer for Cimpor was part of a strategy of diversification and internationalization. Acquiring control of Cimpor would allow access to markets that are already consolidated and to new markets with high growth potential.

The CSN offer is valued at €5.75 per Cimpor share and the Brazilian company has said that the offer is conditional on obtaining 50% plus one share in the cement producer. Cimpor is reported to have 672 million outstanding shares.

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