Portuguese cement company Cimpor - Cimentos de Portugal SGPS is studying the
possibility of purchasing Argentine cement maker Loma Negra, it was reported
on August 14, 2004. According to a publication in Portuguese business weekly Semamario
Economico, the negotiations for the sale of Loma Negra were discounted a year
ago, but the recovery of the Argentine economy made the owners of the cement
maker raise the previously agreed sale price. No financial figures were
available.
The sale is being managed by US investment bank JP Morgan, which shortlisted
candidates, and bids are expected to be submitted in September 2004. The other bidders for Loma Negra, according to Semanario Economico, are sector companies, namely Brazilian Votorantim and Camargo Correa, Mexican Cemex, and French Lafarge.
