CEMEX Reaches Binding Agreement to Divest Aggregates and Ready-Mix Assets in Germany
March 19 2019 - 6:00AM
Business Wire
CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced today that
it has reached a binding agreement to sell its aggregates and
ready-mix assets in the North and North-West regions of Germany to
GP Günter Papenburg AG for approximately €87 million.
CEMEX currently expects to sign a final agreement for the sale
of assets during April 2019 and close this divestment during the
second quarter of 2019.
The assets in Germany being divested consist of 4 aggregates
quarries and 4 ready-mix facilities in North Germany, and 9
aggregates quarries and 14 ready-mix facilities in North-West
Germany.
The proceeds expected to be obtained from this divestment will
be used mainly for debt reduction and for general corporate
purposes.
The closing of this transaction is subject to the satisfaction
of standard conditions for this type of transactions, which
includes authorization by regulators.
CEMEX is a global building materials company that provides high
quality products and reliable service to customers and communities
in more than 50 countries. CEMEX has a rich history of improving
the well-being of those it serves through innovative building
solutions, efficiency advancements, and efforts to promote a
sustainable future.
For more information on CEMEX, please visit: www.cemex.com.
For more information on GP Günter Papenburg AG, please visit:
www.gp.ag/gp-ag/start/.
This press release contains forward-looking statements and
information that are necessarily subject to risks, uncertainties,
and assumptions. Many factors could cause the actual results,
performance, or achievements of CEMEX or the transaction herein
described to be materially different from those expressed or
implied in this release, including not reaching a final agreement
or not satisfying all closing conditions required to close this
divestment. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those described herein.
CEMEX assumes no obligation to update or correct the information
contained in this press release. CEMEX is not responsible for the
content of any third-party website or webpage referenced to or
accessible through this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20190319005252/en/
Media RelationsJorge Pérez+52(81)
8888-4334mr@cemex.comInvestor RelationsEduardo
Rendón+52(81) 8888-4256ir@cemex.comAnalyst
RelationsLucy Rodriguez+1(212) 317-6007ir@cemex.com
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