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Cemex to divest Dominican operations for $950 million

08/05/2024

Less than a minute

2024.08.05 06:45

(Reuters) -Mexican cement maker Cemex on Monday announced the sale of its operations in the Dominican Republic to Cementos Progreso and strategic partners for about $950 million.

The company added in a statement the transaction also includes export businesses to Haiti.

© Reuters. FILE PHOTO: The logo of Mexican cement maker CEMEX is pictured at it's plant in Monterrey, Mexico June 8, 2021. Picture taken June 8, 2021. REUTERS/Daniel Becerril/File Photo

The divested assets mainly consist of one cement plant in the Dominican Republic with two integrated production lines and related cement, concrete, aggregates and marine terminal assets, Cemex noted in the statement.

The company expects to finalize the transaction during the fourth quarter of 2024.

08/05/2024

Less than a minute

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