Cemex has announced that one of its subsidiaries in the US has signed a definitive agreement to divest its US Reinforced Concrete Pipe Manufacturing Business to Quikrete Holding Inc.
This will be for approximately US$500 million plus an additional US$40 million purchase price contingent on future performance.
The closing of this transaction is subject to the satisfaction of certain conditions, including approval from regulators. The sale is expected to be finalised during 1Q17.
Read the article online at: https://www.worldcement.com/the-americas/29112016/cemex-announces-divestment/