Through certain subsidiaries, CEMEX has successfully closed the previously informed sale of its operations in Costa Rica and El Salvador to Cementos Progreso Holdings SL, for an approximate amount of US$329m, as per the terms of the transactional documents.
The transaction, which was closed in line with the terms that had been disclosed on 29 December 2021, is an important step in meeting the goal of optimising the company’s global asset base through asset divestments under CEMEX’s strategic plan, Operation Resilience. In line with Operation Resilience, the company continues to actively evaluate other divestment opportunities in the regions in which it operates.
Proceeds from this divestment are expected to be used to fund CEMEX’s bolt-on investment growth strategy, reduce debt and other general corporate purposes. These transactions represent CEMEX’s permanent exit from both countries.
Cementos Progreso Holdings SL, is a leading regional group in cement and construction materials with operations in seven countries after this transaction.
