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/