Following a careful analysis of the terms of conditions ("Cahier de Charges") received from the Portuguese government, Holcim Ltd (formerly "Holderbank" Financière Glaris Ltd.) has decided against submitting an offer to buy the government's holding of around 10 percent of the Cimpor share capital. The decision was largely prompted by the high asking price of EUR 30.4 per Cimpor share. In the original public offer made by Holcim partner Secil last year, a purchase price of EUR 23.50 was offered. The new price in excess of EUR 30 per share no longer represents a viable investment for Holcim due to the 10 percent voting restriction in the by-laws of Cimpor, which prevents a future-oriented solution.
Holcim opts not to make bid under final phase of Portuguese Cimpor's privatization. The reason behind the decision is the high purchase price.
With majority and minority interests in over 70 countries on all continents, Holcim is one of the world's leading suppliers of cement, as well as aggregates (gravel and sand), concrete and construction-related services.