CEMEX and GCC Announce Pricing of 15.6% Stake in Grupo Cementos De Chihuahua
February 10 2017 - 6:37AM
Business Wire
- CEMEX to remain a direct and indirect
minority shareholder of GCC
Cemex, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) and Grupo Cementos de
Chihuahua, S.A.B. de C.V. (“GCC”) (BMV: GCC*) announced today that
on February 9, 2017 they priced their previously announced
secondary offerings of 51,750,000 shares of common stock (the
“Shares”) of GCC, currently owned by CEMEX, at a price of Mexican
pesos 95 per share, which includes 6,750,000 shares available to
the underwriters of the offerings for overallotment and that may be
purchased pursuant to a 30-day option granted to the underwriters
by CEMEX.
Such offerings are comprised of Shares offered (a) in a public
offering to investors in Mexico authorized by the Comisión Nacional
Bancaria y de Valores (Mexican National Banking and Securities
Commission, or the “CNBV”) conducted through the Bolsa Mexicana de
Valores, S.A.B. de C.V. (Mexican Stock Exchange, or the “BMV”) and
(b), in a concurrent private placement, to eligible investors
outside of Mexico. CEMEX and GCC expect to close the offerings on
or about February 15, 2017, subject to satisfaction of customary
closing conditions.
If all 51,750,000 Shares are sold by CEMEX in the offerings,
CEMEX will have sold 15.6% of its 23% direct ownership interest in
GCC. After the offerings, CEMEX will own a 7.4% direct interest in
GCC and also have a minority interest in CAMCEM, an entity which
owns a majority interest in GCC. CEMEX is selling the Shares in the
context of CEMEX’s previously announced asset divestiture
plans.
The gross proceeds from the offerings are estimated to be
approximately U.S.$240 million, before deducting discounts,
commissions and estimated offering expenses (assuming the
underwriters exercise their overallotment option in full and based
on the exchange rate of Mexican pesos 20.4994 per U.S.$1.00,
published on February 9, 2017 by the Banco de México in the Diario
Oficial de la Federación (Federal Official Gazette) on such
date).
The Shares are listed on the BMV under the ticker symbol “GCC*”.
The Shares have not been and will not be listed in any national
securities exchange or quoted in any automated interdealer
quotation system in the United States or elsewhere outside of
Mexico. The Shares are registered with the Registro Nacional de
Valores (Mexican National Securities Registry, or “RNV”) maintained
by the CNBV. Registration of the Shares with the RNV does not imply
any certification as to the investment quality of the Shares, GCC’s
solvency or the accuracy or completeness of the information
contained in any offering document, and such registration does not
ratify or validate acts or omissions, if any, undertaken in
contravention of applicable law.
This release is neither an offer to purchase nor a solicitation
of an offer to sell or buy any securities of CEMEX or GCC in any
transaction.
The Shares have not been and will not be registered under the
U.S. Securities Act of 1933, as amended (the “Securities Act”), or
any state securities laws, and they may not be offered or sold in
the United States absent registration or an applicable exemption
from the registration requirements of the Securities Act.
The Shares are being offered only to qualified institutional
buyers pursuant to Rule 144A and outside the United States pursuant
to Regulation S, both as promulgated under the Securities
Act.
This press release contains forward-looking statements and
information that are necessarily subject to risks, uncertainties,
and assumptions. No assurance can be given that the transactions
described herein will be consummated or as to the ultimate terms of
any such transactions. Neither CEMEX nor GCC assume any obligation
to update or correct the information contained in this press
release.
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version on businesswire.com: http://www.businesswire.com/news/home/20170210005281/en/
Cemex, S.A.B. de C.V.Media Relations:Jorge Pérez,
+52 (81) 8888-4334mr@cemex.comorInvestor
Relations:Eduardo Rendón, +52 (81)
8888-4256ir@cemex.comorAnalyst Relations:Lucy
Rodriguez, +1 212-317-6007ir@cemex.com
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