Camargo Correa SA, a Brazilian cement producer and the biggest investor in Cimpor-Cimentos de Portugal SGPS SA, offered 2.48 billion euros ($3.31 billion) to buy the 67 percent of the Portuguese company it doesn’t already own.
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Camargo Correa SA said its 2.48 billion-euro ($3.24 billion) offer to buy Cimpor-Cimentos de Portugal SGPS SA is fair and it doesn’t regard a counter bid by Brazilian competitor Votorantim Cimentos SA as likely.
A planned tax cut for Brazilian biofuel won’t be enough to restore investment in new sugar-cane mills, jeopardizing a 7 billion-real ($3.56 billion) ethanol- pipeline project, according to Copersucar SA.
Camargo Correa SA, a Brazilian holding company, is seeking to sell Jardim Sul mall in Sao Paulo as it plans to raise cash to invest in energy and infrastructure projects, Valor Economico reported, without saying where it obtained the information.
Camargo Correa SA’s 2.48 billion-euro ($3.3 billion) bid to buy out Cimpor-Cimentos de Portugal SGPS SA seems appropriate and a rival offer for the cement company is unlikely, a consultant for the Portuguese government said.