Cemex closes Austria and Hungary transaction
Published by Joseph Green,
Editor
World Cement,
Cemex, S.A.B. de C.V. has announced that it has closed the sale of its operations in Austria and Hungary to the Rohrdorfer Group for approximately €160.1 million.
The Austrian operations consist of 24 aggregate quarries (approximately 6.47 million t of aggregates sold in 2014) and 34 ready-mix plants (approximately 1.60 million m3 of ready-mix sold in 2014). Cemex’s operations in Austria had net sales of approximately US$241 million in 2014.
The Hungarian operations consist of 5 aggregate quarries (approximately 1.36 million t of aggregates sold in 2014) and 34 ready-mix plants (approximately 0.46 million m3 of ready-mix sold in 2014). Cemex’s operations in Hungary had net sales of approximately US$47 million in 2014.
The proceeds obtained from this transaction will be used mainly for debt reduction and for general corporate purposes.
Bank of America Merrill Lynch, Citigroup, BNP Paribas and Morgan Stanley & Co. International plc acted as financial advisors to Cemex in this transaction.
Adapted from press release by Joseph Green
Read the article online at: https://www.worldcement.com/europe-cis/03112015/cemex-closes-austria-hungary-transaction-895/
You might also like
The World Cement Podcast - Exploring CO2 storage
In this episode of the World Cement Podcast, we are joined by Dr Katherine Romanak of the University of Texas at Austin for a deep dive into the topic of geological CO2 storage – the processes involved both above and below ground, the challenges and opportunities, and what (not) to worry about!
Tune in to the World Cement Podcast on your favourite podcast app today.
