02.05.2016 14:33:02

CEMEX To Divest Certain Assets In U.S. For $400 Mln

(RTTNews) - CEMEX S.A.B. de C.V. (CX) announced that it has reached an agreement in principle for the sale of certain assets in the U.S. to Grupo Cementos de Chihuahua, S.A.B. de C.V. ("GCC") for US$400 million.

The assets, which would be sold to a U.S. affiliate of GCC, mainly consist of CEMEX's cement plants in Odessa, Texas and Lyons, Colorado, three cement terminals and the building materials business in El Paso, Texas and Las Cruces, New Mexico.

Closing of this transaction is subject to final binding agreements being signed as well as to the fulfillment of various conditions precedent, mainly confirmatory due diligence and approvals from competition authorities, among others.

The company currently expect to finalize this transaction before the end of 2016.

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