CEMEX announces closing of divestment of its operations in Costa Rica and El Salvador
Published by Sol Klappholz,
Assistant Editor
World Cement,
CEMEX announced today that, through certain subsidiaries, it has successfully closed the previously informed sale of its operations in Costa Rica and El Salvador to Cementos Progreso Holdings, S.L., through its subsidiaries, for an approximate amount of US$329 million, as per the terms of the transactional documents.
The transaction, which was closed in line with the terms that had been disclosed on December 29, 2021, is an important step in meeting the goal of optimizing the company’s global asset base through asset divestments under CEMEX’s strategic plan, Operation Resilience. In line with Operation Resilience, the company continues to actively evaluate other divestment opportunities in the regions in which it operates.
Proceeds from this divestment are expected to be used to fund CEMEX’s bolt-on investment growth strategy, reduce debt and other general corporate purposes. These transactions represent CEMEX’s permanent exit from both countries.
Read the article online at: https://www.worldcement.com/the-americas/01092022/cemex-announces-closing-of-divestment-of-its-operations-in-costa-rica-and-el-salvador/
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