Cemex announced that it has reached a binding agreement with Çimsa Çimento Sanayi Ve Ticaret A.S., to divest Cemex’s white cement business, including its Buñol cement plant in Spain, for approximately US$ 180 million.
Cemex currently expects it could sign the final agreement during April 2019 and close this divestment during the second half of 2019. The proposed divestment does not include Cemex’s white cement business in Mexico as well as the investment in Lehigh Cement in the USA.
This transaction is part of the ongoing rebalancing of Cemex’s portfolio that was announced as part of the “A Stronger Cemex” plan in 2018. Once closed, it would allow Cemex to concentrate on the assets best suited to grow in the context of the Cemex’s current business plan.
Furthermore, Cemex announced 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.