Cemex to sell Bangladesh-Thailand operations to Siam City Cement

643 Cemex, the global building materials giant, has signed an agreement for the sale of its operations in Bangladesh and Thailand to Siam City Cement for around US$53 million.

The proceeds obtained from this transaction will be used mainly for debt reduction and for general corporate purposes, a Cemex spokesperson said.

The spokesperson added: “The closing of this agreement is subject to the satisfaction of standard conditions for this type of transactions. We currently expect to finalise this divestiture during the second quarter of 2016.”