Posted in | News

CEMEX to Sell its Operations in Croatia for €230.9 Million

CEMEX, S.A.B. de C.V. announced today that it has signed an agreement for the sale of its operations in Croatia, including its assets in Bosnia & Herzegovina, Montenegro and Serbia, to Duna-Dráva Cement for approximately €230.9 million.

The assets being sold mainly consist of 3 cement plants (approximately 1.66 million tons of cement sold in 2014), 2 aggregate quarries (approximately 0.16 million metric tons of aggregates sold in 2014) and 7 ready-mix plants (approximately 0.25 million cubic meters of ready mix sold in 2014). CEMEX’s operations in Croatia, including Bosnia & Herzegovina, Montenegro and Serbia, had net sales of approximately U.S.$138 million in 2014.

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

The closing of this transaction is subject to the satisfaction of standard conditions for this type of transaction, which includes authorization by regulators. We currently expect to finalize this transaction during the fourth quarter of 2015.

Bank of America Merrill Lynch, Citigroup, BNP Paribas and Morgan Stanley & Co. International plc acted as financial advisors to CEMEX in this transaction.

CEMEX is a global building materials company that provides high-quality products and reliable services to customers and communities in more than 50 countries. CEMEX 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.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.