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News » US » Cemex Sells $400m of US Assets to GCC » published 3 May 2016

Cemex Sells $400m of US Assets to GCC

Cemex has reached an agreement in principle to sell some of its assets in the US to Grupo Cementos de Chihuahua (GCC) for $400m.

The assets, which would be sold to a US affiliate of GCC, mainly consist of cement plants in Odessa (Texas) and Lyons (Colorado), three cement terminals and the building materials business in El Paso (Texas) and Las Cruces (New Mexico).

Closing of the transaction is subject to final binding agreements being signed as well as to the fulfillment of various conditions, including due diligence and approvals from competition authorities. The aim is to finalize the transaction before the end of this year.

 

 

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This article was published on 3 May 2016 (last updated on 3 May 2016).

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