CEMEX increases ownership in CLH
Published by Emily Thomas,
Deputy Editor
World Cement,
CEMEX España, S.A., an indirect subsidiary of CEMEX, will increase its shareholdings in CEMEX Latam Holdings, S.A. which is listed on the Colombian Stock Exchange, from 73.16% to 92.60% of CLH’s paid and outstanding shares (excluding shares owned by CLH).
This increase is a result of the completion of a tender offer made by CEMEX España for any and all outstanding ordinary shares of CLH (except for shares either owned by CEMEX España or by CLH), directed to all of CLH’s shareholders at a purchase price of 3250 Colombian Pesos per ordinary share.
In particular, 108 337 613 ordinary shares of CLH were validly tendered in the offer, representing 72.41% of the outstanding ordinary shares of CLH (excluding shares owned by CLH) for which the offer was made. Pursuant to Colombian securities regulations, the offer was awarded on 15 December 2020 and is expected to fully settle on 18 December 2020 for an aggregate amount of approximately 352 097 242 250 Colombian Pesos.
Through the offer, CEMEX is simplifying and strengthening its overall capital structure by further consolidating its indirect interest in CLH.
Citigroup Global Markets Inc. acted as sole advisor and Corredores Davivienda S.A. acted as intermediary broker for the offer.
Read the article online at: https://www.worldcement.com/europe-cis/17122020/cemex-increases-ownership-in-clh/
You might also like
The World Cement Podcast
In this special joint episode of the World Cement Podcast, and Cementing Europe’s future, the podcast of CEMBUREAU, David Bizley and Koen Coppenholle take a deep dive into the Clean Industrial Deal and a discussion of what it means for the European cement industry.
Listen for free today at www.worldcement.com/podcasts or subscribe and review on your favourite podcast app.
Horton quarry rail link reopens after 60 years
The rail link at Heidelberg Materials Horton quarry in Yorkshire has been reinstated as part of their strategy to improve their network of rail connected quarries and depots.
