Mexican cement giant Cemex says one of its subsidiaries in the United States has signed a definitive agreement for the sale of its Fairborn, Ohio cement plant and cement terminal in Columbus, Ohio to Eagle Materials Inc. for around US$400 million. 2016 EBITDA for the divested assets is estimated to be US$33 million. The proceeds obtained from the Fairborn transaction will be used mainly for debt reduction and for general corporate purposes. The closing of the cement plant sale is subject to the satisf
Mexican cement giant Cemex says one of its subsidiaries in the United States has signed a definitive agreement for the sale of its Fairborn, Ohio cement plant and cement terminal in Columbus, Ohio to Eagle Materials Inc. for around US$400 million. 2016 EBITDA for the divested assets is estimated to be US$33 million.
The proceeds obtained from the Fairborn transaction will be used mainly for debt reduction and for general corporate purposes.
The closing of the cement plant sale is subject to the satisfaction of certain conditions, including approval from regulators. Cemex expect to finalise this divestiture during the fourth quarter of 2016 or soon thereafter.
Bank of America Merrill Lynch is acting as financial advisor to Cemex over the sale.
