CEMEX reaches binding agreement to sell German aggregates & ready-mixed assets
First publishedon www.AggBusiness.com
CEMEX has reached a binding agreement to sell its aggregates and ready-mixed concrete assets in the North and North-West regions of Germany to GP Günter Papenburg AG for approximately €87 million.
The Mexican headquartered global building materials supplier currently expects to sign a final agreement for the sale of assets during April 2019 and close this divestment during the second quarter of 2019.
The CEMEX assets in Germany being divested consist of four aggregates quarries and four ready-mix facilities in North Germany, and nine aggregates quarries and 14 ready-mixed facilities in North-West Germany.
The proceeds expected to be obtained from this divestment will be used mainly for debt reduction and for general corporate purposes.