On 10 March 2016 Cemex announced that it will be divesting its operations in Bangladesh and Thailand.
The company announced that it has signed an agreement for the sale of its operations in Bangladesh and Thailand to Siam City Cement Public Company Limited, for approximately US$53 million.
The proceeds from the transaction will primarily be used for the reduction of debt as well as for general corporate purposes.
The closing of the agreement is subject to the satisfaction of the standard conditions for this type of transaction – it is expected that the divestiture will be finalised at some point during 2Q16.
Adapted from press release by Rebecca Bowden
Read the article online at: https://www.worldcement.com/asia-pacific-rim/11032016/cemex-to-divest-operations-in-bangladesh-and-thailand-672/