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