CEMEX España to increase stake in CLH

Mexican building materials giant CEMEX says CEMEX España, its indirect subsidiary, will increase its shareholdings in CEMEX Latam Holdings, which is listed on the Colombian Stock Exchange, from 73.16% to 92.60% of CLH’s paid and outstanding shares (excluding shares owned by CLH).
By Guy Woodford December 17, 2020 Read time: 1 min
CEMEX España is to increase its shareholdings in CLH

This increase is a result of the completion of a tender offer made by CEMEX España for any and all outstanding ordinary shares of CLH (except for shares either owned by CEMEX España or by CLH), directed to all of CLH’s shareholders at a purchase price of 3,250 Colombian Pesos per ordinary share. In particular, 108,337,613 ordinary shares of CLH were validly tendered in the Offer, representing 72.41% of the outstanding ordinary shares of CLH (excluding shares owned by CLH) for which the Offer was made.

Pursuant to Colombian securities regulations, the Offer was awarded on 15 December 2020 and is expected to fully settle on 18 December 2020 for an aggregate amount of approximately 352,097,242,250 Colombian Pesos.

Through the Offer, CEMEX is simplifying and strengthening its overall capital structure by further consolidating its indirect interest in CLH.

Citigroup Global Markets acted as sole advisor, and Corredores Davivienda acted as the intermediary broker for the Offer.

For more information on companies in this article

Related Content

April 29, 2024

Cemex to divest Philippines operations

Building materials provider Cemex announced that its subsidiary Cemex Asia has signed an agreement with DACON, DMCI and Seminara Mining & Power for the sale of its operations and assets in the Philippines.

January 10, 2017

Cemex makes revised takeover bid for Trinidad Cement

Cemex’s indirect subsidiary Sierra Trading (Sierra) is to make a revised shares offer worth over US$100 million in a bid to complete a takeover of Trinidad Cement (TC).

Full TC shareholders’ acceptance of the new offer of TT$5.07 in cash per TC share would result in a cash payment by Sierra of around TT$672 million (US$101 million). The Revised Offer Price represents a premium of 50% over the 1 December 2016 closing price of TC’s shares on the Trinidad and Tobago Stock Exchange. Except for shareholders o

boombox1

Highlighted Content

boombox2