Cemex is to sell its aggregates and ready-mix assets in the north and north west regions of Germany to GP Günter Papenburg for approximately €87 million.
The assets being divested consist of four aggregates quarries and four ready-mix facilities in north Germany and nine aggregates quarries and 14 ready-mix facilities in north west Germany.
Cemex says the proceeds expected to be obtained from this divestment will be used mainly for debt reduction and for general corporate purposes.
The closure of the divestment is expected during the second quarter of 2019.
