SEMAPA NOTIFIES CRH OF INTENTION TO ACQUIRE CRH'S 49% HOLDING IN
PORTUGUESE CEMENT JOINT VENTURE SECIL
On 10 August 2011 CRH plc announced that an Arbitral Tribunal in Paris, functioning under the Rules of Arbitration of the International Chamber of Commerce (ICC), had issued its award and that CRH and Semapa (SGPS,S.A.) were obliged to complete the sale and purchase of CRH's 49% shareholding in Secil at an equity price of €574 million.
Semapa has now notified CRH of its intention to acquire the Secil shares held by CRH on 15 May 2012 on the terms set out in the ICC award.
CRH acquired a 49% shareholding with joint management control in Secil in June 2004 for an equity consideration of €329 million plus share of net debt at acquisition of approximately €100 million.
Datafeed and UK data supplied by NETbuilder and Interactive Data.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk!
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.