The assets to be acquired by the building materials giant from HeidelbergCement include a limestone quarry with a waste management operation strategically positioned to serve the Madrid metropolitan area, and three concrete plants that will enhance its vertical integration in the Balearic Islands.
CEMEX says the investment is part of a strategy to enhance its vertically integrated positions in high-growth urban centres worldwide.
"This acquisition will allow us to better serve our customers by integrating and complementing our portfolio to provide a comprehensive and sustainable offering in the high-growth regions of Madrid and the Balearics Islands," said Sergio Menendez, president of CEMEX Europe, Middle East, Africa & Asia.
"This is another example of the efforts that we are taking to optimise our portfolio and foster EBITDA growth by investing in accretive, bolt-on acquisitions."
Subject to customary closing conditions, CEMEX says it currently expects to finalise this transaction during the first half of 2022.
