Cemex closes Austria and Hungary transaction

Cemex closes Austria and Hungary transaction

Cemex, S.A.B. de C.V. has announced that it has closed the sale of its operations in Austria and Hungary to the Rohrdorfer Group for approximately 160.1 million.

The Austrian operations consist of 24 aggregate quarries and 34 ready-mix plants (approximately 1.60 million m3 of ready-mix sold in 2014). Cemex´s operations in Austria had net sales of approximately $241 million in 2014.

The Hungarian operations consist of 5 aggregate quarries (approximately 1.36 million t of aggregates sold in 2014) and 34 ready-mix plants (approximately 0.46 million m3 of ready-mix sold in 2014). Cemex´s operations in Hungary had net sales of approximately $47 million in 2014.

The proceeds obtained from this transaction will be used mainly for debt reduction and for general corporate purposes. Bank of America Merrill Lynch, Citigroup, BNP Paribas and Morgan Stanley & Co. International plc acted as financial advisors to Cemex in this transaction.

Related Stories

Indian Cement Review
www.indiancementreview.com