Its US subsidiary, Kosmos Cement Firm – a partnership with a subsidiary of Buzzi Unicem by which Cemex holds a 75% stake – has signed a definitive settlement to promote a set of belongings to Eagle Supplies for a payment of roughly $ 665 million.
Disposed belongings embody the Kosmos cement plant in Louisville, Kentucky, in addition to seven distribution terminals and uncooked materials reserves.
"That is one other milestone in reaching our objectives" A stronger Cemex, "stated Fernando Gonzalez, CEO of Cemex. "At current, completed or introduced asset gross sales exceed $ 1.three billion underneath this program. We’re happy with the favorable dynamics of asset divestment in our sector. "
Proceeds from this transaction shall be used primarily for debt discount and normal company functions.
The closing of the transaction is topic to the satisfaction of sure circumstances, together with the approval of the regulators. Cemex plans to finalize this sale within the first quarter of 2020 or shortly thereafter.