It is reported that Votorantim has intentions to join steelmaker CSN and construction group Camargo Correa in its bid for Portugal's largest cement producer Cimpor.

As per report, Votorantim has hired the services of Deutsche Bank to prepare a bid likely to target a minority stake in Cimpor. The company has also hired lawyers in Portugal to provide legal advice.

The interest from Votorantim is an expression of the expansion that the companies in Brazil envisage as the country prepares for a construction boom ahead of the 2014 soccer World Cup and 2016 Olympics there.

Meanwhile, Camargo Correa Group said that it was thinking over its options after the Portuguese stock market regulator told Camargo it had to present a counter bid to take over Cimpor or withdraw its merger offer.

(Sourced from www.forexyard.com)