CEMEX has announced that its US affiliate, Kosmos Cement Company (‘Kosmos’), a partnership with a subsidiary of BUZZI UNICEM S.p.A. in which CEMEX holds a 75% interest, has closed its previously announced divestment of its Kentucky cement plant and related assets to Eagle Materials Inc. for an aggregate amount of approximately US$665 million, of which the proceeds to CEMEX will be approximately US$499 million.
The proceeds obtained by CEMEX from this transaction will be used mainly for debt reduction and for general corporate purposes.
BofA Securities, Inc. and Citigroup Global Markets Inc. are acting as financial advisors in this transaction.