Cemex has announced that it has successfully closed the previously announced sale of its white cement business, including its Buñol cement plant in Spain, to Çimsa Çimento Sanayi Ve Ticaret AS, for a total consideration of approximately US$155m.
Cemex will retain its white cement assets, business activities and investments in Mexico and the United States, as these are not part of the announced divestment.
Proceeds from this divestment will be used primarily to fund the company’s bolt-on investment growth strategy in its core businesses and geographies, as well as to reduce debt.
