PT Portugal: Semapa to take up to 10% in Apax Partners/Bain Capital consortium
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Semapa, the listed Portuguese cement group, will take up to 10% in the Apax Partners and Bain Capital group making a EUR 7.075bn bid for PT Portugal, a press release said.
In a statement to the CMVM Portuguese Securities Commission, Semapa said it has reached a MoU with Apax and Bain to take between 5% and 10% in the consortium expected to make a binding bid for PT Portugal tomorrow (28 November) to owner Oi, the Brazilian telco.
Semapa's statement, in English, can be seen here.
Apax and Bain were reportedly seeking a Portuguese partner for their offer on PT Portugal, and listed postal services group CTT was said to be interested in joining the consortium. But CTT said in a regulatory filing it will not participate in any joint offer on PT Portugal or acquire any of its shares.