On 29 September, Cemex USA announced that it is selling its Florida gypsum wallboard business, which is based in Florida, to US LBM.
The proceeds obtained from the transaction will not be a material amount, but are intended for use mainly by Cemex USA’s affiliates for debt reduction, as well as for general corporate purposes.
Subject to the satisfaction of standard conditions for this type of transaction, it is expected that the transaction will be finalised at any point before the end of 2015.
Bank of America Merrill Lynch and Citigroup acted as financial advisors to Cemex in this transaction.