The agreed price for the deal, which is subject to regulatory approval, is US$180mn. CEMEX says it currently expects to sign the final agreement during April and close the divestment in 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.
CEMEX said the transaction is part of the ongoing rebalancing of its portfolio that was announced in 2018. Once closed, the building materials company added that it would be able to concentrate on the assets best suited to grow in the context of the its current business plan.
The company said that the proceeds from the divestment would be mainly used for debt reduction and general corporate purposes.
Earlier this month CEMEX reached a binding agreement to sell its aggregates and ready-mixed concrete assets in the North and North-West regions of Germany to GP Günter Papenburg for around €87mn.
