CEMEX Announces Divestment of Its Operations in Croatia
August 12 2015 - 5:00AM
Business Wire
CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced today that
it has signed an agreement for the sale of its operations in
Croatia, including its assets in Bosnia & Herzegovina,
Montenegro and Serbia, to Duna-Dráva Cement for approximately
€230.9 million.
The assets being sold mainly consist of 3 cement plants
(approximately 1.66 million tons of cement sold in 2014), 2
aggregate quarries (approximately 0.16 million metric tons of
aggregates sold in 2014) and 7 ready-mix plants (approximately 0.25
million cubic meters of ready mix sold in 2014). CEMEX’s operations
in Croatia, including Bosnia & Herzegovina, Montenegro and
Serbia, had net sales of approximately U.S.$138 million in
2014.
The proceeds obtained from this transaction 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 transaction, which includes
authorization by regulators. We currently expect to finalize this
transaction during the fourth quarter of 2015.
Bank of America Merrill Lynch, Citigroup, BNP Paribas and Morgan
Stanley & Co. International plc acted as financial advisors to
CEMEX in this transaction.
CEMEX is a global building materials company that provides
high-quality products and reliable services 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 Duna-Dráva Cement, please visit:
www.duna-drava.hu
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 project herein
described to be materially different from those expressed or
implied in this release, including not satisfying all closing
conditions. 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: http://www.businesswire.com/news/home/20150812005283/en/
CEMEX, S.A.B. de C.V.Media RelationsJorge Pérez,
+52(81) 8888-4334mr@cemex.comorInvestor RelationsEduardo
Rendón, +52(81) 8888-4256ir@cemex.comorAnalyst
RelationsLucy Rodriguez, +1-212-317-6007ir@cemex.com
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