CEMEX in talks to sell Dominican Republic business

CEMEX is reportedly considering selling its assets in the Dominican Republic. According to Bloomberg, the cement producer is working with J P Morgan Chase & Co on the potential divestment of its business in the Dominican Republic as it decides to shift its focus onto bigger markets.

CEMEX, which has had a presence in the country since 1995, currently runs a 2.4Mta cement plant at San Pedro de Macorís, and also has 10 concrete plants, two aggregate quarries, a gypsum mine and three marine terminals.

Although proceedings are believed to be at an early stage, CEMEX has reportedly begun talks with interested parties with any deal potentially worth in excess of US$1bn.