Cemex Holdings Philippines applies to sell off minority stake in subsidiary

Cemex Holdings Philippines, the Mexican building materials giant’s Philippines subsidiary, has applied through a registration statement to the Philippines authorities to sell a minority stake in its assets in the Southeast Asian country. The document outlining details of the planned sale has been filed with the Securities and Exchange Commission of the Philippines (Philippine SEC). Cemex Holdings Philippines assets are mainly focused on cement manufacturing. The filing of the registration statement is
March 11, 2016 Read time: 1 min

643 Cemex Holdings Philippines, the Mexican building materials giant’s Philippines subsidiary, has applied through a registration statement to the Philippines authorities to sell a minority stake in its assets in the Southeast Asian country.

The document outlining details of the planned sale has been filed with the Securities and Exchange Commission of the Philippines (Philippine SEC). Cemex Holdings Philippines assets are mainly focused on cement manufacturing.

The filing of the registration statement is a first step in one of the alternatives Cemex is exploring as part of its previously announced asset divestiture plan.

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USA: Cemex to sell Fairborn Cement Plant

Mexican cement giant Cemex says one of its subsidiaries in the United States has signed a definitive agreement for the sale of its Fairborn, Ohio cement plant and cement terminal in Columbus, Ohio to Eagle Materials Inc. for around US$400 million. 2016 EBITDA for the divested assets is estimated to be US$33 million.

The proceeds obtained from the Fairborn transaction will be used mainly for debt reduction and for general corporate purposes.

The closing of the cement plant sale is subject to the satisf

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