15 June 2006
Cementos Portland Valderrivas, S.A. has formalized a purchase/sale agreement for the shareholder company of Corporación Uniland, S.A., called Portland S.L., which thus becomes part of Grupo Portland Valderrivas. Subsequently Portland S.L. closed the purchase of the majority of the capital (a minimum of 51%) of Corporación Uniland, S.A. with other company shareholders. In addition, Portland, S.L. has given these shareholders a put option which will enable them to transfer up to 73.51% of this capital to Portland, S.L. within a maximum of five years. The execution of the purchase/sale transaction is subject to the approval of the antitrust authorities.
The inclusion of Corporación Uniland, S.A. in Grupo Portland Valderrivas helps to make Cementos Portland Valderrivas into the leading enterprise in the Spanish sector and one of the biggest in the world, with 15 cement factories, 170 concrete plants, 63 quarries and 18 mortar plants around the world among other assets. Its cement capacity stands at 18.8 million tons.
The transaction is not only complementary in the Spanish market but also opens up new possibilities for international growth and in particular in the Mediterranean area.
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