CEMEX Signs Final Agreement to Divest Aggregates and Ready-Mix Assets in Germany
MONTERREY, Mexico--(BUSINESS WIRE)--May 13, 2019--
CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced today that it has signed the final agreement to sell its aggregates and ready-mix assets in the North and North-West regions of Germany to GP Günter Papenburg AG for approximately €87 million.
CEMEX currently expects to close this divestment during the second quarter of 2019.
The assets in Germany being divested consist of 4 aggregates quarries and 4 ready-mix facilities in North Germany, and 9 aggregates quarries and 14 ready-mix facilities in North-West Germany.
The proceeds expected to be obtained from this divestment will be used mainly for debt reduction and for general corporate purposes.
CEMEX is a global building materials company that provides high quality products and reliable services and has a rich history of improving the well-being of those it serves through innovative building solutions, efficiency advancements, and efforts to promote a sustainable future.
For more information on CEMEX, please visit: www.cemex.com
For more information on GP Günter Papenburg AG, please visit: www.gp.ag/gp-ag/start/
This press release contains forward-looking statements and information that are necessarily subject to risks, uncertainties, and assumptions. Many factors could cause the actual results, performance, or achievements of CEMEX or the transaction herein described to be materially different from those expressed or implied in this release, including not satisfying all closing conditions required to close this divestment. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. CEMEX assumes no obligation to update or correct the information contained in this press release. CEMEX is not responsible for the content of any third-party website or webpage referenced to or accessible through this press release.
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CONTACT: Media Relations
KEYWORD: UNITED STATES MEXICO EUROPE NORTH AMERICA CENTRAL AMERICA GERMANY NEW YORK
INDUSTRY KEYWORD: ARCHITECTURE REIT CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE RESIDENTIAL BUILDING & REAL ESTATE OTHER CONSTRUCTION & PROPERTY
SOURCE: CEMEX, S.A.B. de C.V.
Copyright Business Wire 2019.
PUB: 05/13/2019 05:30 PM/DISC: 05/13/2019 05:31 PM