Holcim Helps Spanish Investor Group Acquire Strategic Equity Stake in Cimpor (Portugal)

12 December 2001

Currently holding 10 percent of Cimpor, Holcim will retain a strategic interest in the Portuguese cement producer, which has a significant international network. Holcim is therefore assisting the Spanish investor group, Cartera Lusitania, to acquire a Cimpor share package of its own and continues to seek a forward-looking solution for all Cimpor shareholders


In June 2001, Holcim Ltd decided not to submit a bid for the Portuguese government's stake in Cimpor. The decision was prompted primarily by the high price as well as the restrictive articles of incorporation. Holcim had previously acquired 10 percent of Cimpor's share during the run-up to privatization.Cimpor, with cement operations in Portugal, Spain, Morocco, Tunisia, Mozambique and Brazil, would consolidate and expand Holcim's global market presence. Consequently, Holcim continues to monitor developments surrounding the company with great interest.In view of the ongoing stalemate, an important investor (Fernhill Holdings N.V.), has decided to sell its shares to the Spanish investor group Cartera Lusitania SA. The acquisition price for this share package of 9.5 percent is fixed at EUR 23.50 per share. This is a financial commitment of EUR 299 million. Based on the strategic importance of its current Cimpor investment, Holcim has entered into a "Total Return Swap" agreement with Cartera Lusitania.


Furthermore, Holcim is endeavoring to lay the foundations for a positive and forward-looking solution for all Cimpor shareholders.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. The Group has a workforce of just over 45 000 employees worldwide.

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