Cemex announced yesterday that it has closed the sale of operations in Austria and Hungary to the Rohrdorfer Group for approximately EUR160.1m. The transaction was originally announced on 12 August 2015.

The Austrian operations consist of 24 aggregate quarries (approximately 6.47Mt of aggregates sold in 2014) and 34 ready-mix plants (approximately 1.6Mm3 of ready-mix sold in 2014). Cemex's operations in Austria had net sales of approximately US$241m in 2014.

The Hungarian operations consist of five aggregate quarries (approximately 1.36Mt of aggregates sold in 2014) and 34 ready-mix plants (approximately 0.46Mt of ready-mix sold in 2014). Cemex’s operations in Hungary had net sales of approximately US$47m in 2014.

The proceeds obtained from this transaction will be used mainly for debt reduction and for general corporate purposes, Cemex said.

Bank of America Merrill Lynch, Citigroup, BNP Paribas and Morgan Stanley & Co. International plc acted as financial advisors to Cemex in this transaction.