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22/05/2017

Following the Cementos Portland takeover bid, FCC Group obtains 97.49% of the cement company's capital

On 22 December, the Spanish National Securities Market Commission (CNMV) authorised the delisting takeover bid of Portland shares, an operation that had already been approved at the cement company's last General Shareholders Meeting on 29 June 2016.

 

 

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Following the Cementos Portland takeover bid, FCC Group obtains 97.49% of the cement company's capital

On 17 February, the CNMV announced that the takeover bid, submitted by FCC Group for Cementos Portland Valderrivas, was accepted by 9,356,605 shares, which represent 87.81% of the shares the bid was aimed at.
By launching the bid, FCC, which already controlled 79.42% of the capital of the subsidiary cement company, acquired another 18.07%. As such, FCC Group obtained 97.49% of the capital of Cementos Portland Valderrivas when the acceptance deadline closed.

On 24 February, on completion of the bid, the shares of Cementos Portland Valderrivas shareholders were excluded from being listed on the Spanish Stock Exchange.