Cemex and Holcim complete series of interlinked transactions in Europe

Cemex and Holcim have announced the completion of their series of transactions in Europe. The agreement, which was first announced in August 2013 and subsequently updated in October 2014, sees Holcim acquire Cemex’s assets in western Germany. Cemex has acquired all of Holcim’s operations in the Czech Republic, in addition to Holcim’s Gador cement plant and Yeles grinding station in Spain. Holcim has retained its other assets in the region.

Cemex paid €45 million in cash to Holcim as part of the transaction. Holcim expects the series of transactions to generate an additional operating EBITDA of at least €10 million/year. Cemex forecasts a recurring improvement in its EBITDA, including synergies, of approximately US$20 – 30 million.

Adapted from press release by Louise Fordham

Read the article online at: https://www.worldcement.com/europe-cis/06012015/holcim-cemex-complete-series-of-transactions-in-europe-83/