CEMEX Announces Divestment of Its Operations in Croatia

Bosnia and Herzegovina, Croatia, Europe, Montenegro, North America, Serbia, United States

12/08/2015 — MONTERREY, Mexico — (BUSINESS WIRE)

CEMEX, S.A.B. de C.V. (CEMEX) (NYSE: CX) announced today that it has signed an agreement for the sale of its operations in Croatia, including its assets in Bosnia & Herzegovina, Montenegro and Serbia, to Duna-Dráva Cement for approximately 230.9 million.

The assets being sold mainly consist of 3 cement plants (approximately 1.66 million tons of cement sold in 2014), 2 aggregate quarries (approximately 0.16 million metric tons of aggregates sold in 2014) and 7 ready-mix plants (approximately 0.25 million cubic meters of ready mix sold in 2014). CEMEXs operations in Croatia, including Bosnia & Herzegovina, Montenegro and Serbia, had net sales of approximately U.S.$138 million in 2014.

The proceeds obtained from this transaction will be used mainly for debt reduction and for general corporate purposes.

The closing of this transaction is subject to the satisfaction of standard conditions for this type of transaction, which includes authorization by regulators. We currently expect to finalize this transaction during the fourth quarter of 2015.

Bank of America Merrill Lynch, Citigroup, BNP Paribas and Morgan Stanley & Co. International plc acted as financial advisors to CEMEX in this transaction.

CEMEX is a global building materials company that provides high-quality products and reliable services to customers and communities in more than 50 countries. CEMEX has a rich history of improving the well-being of those it serves through innovative building solutions, efficiency advancements, and efforts to promote a sustainable future.

For more information on CEMEX, please visit: www.cemex.com

For more information on Duna-Dráva Cement, please visit: www.duna-drava.hu

This press release contains forward-looking statements and information that are necessarily subject to risks, uncertainties, and assumptions. Many factors could cause the actual results, performance, or achievements of CEMEX or the project herein described to be materially different from those expressed or implied in this release, including not satisfying all closing conditions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. CEMEX assumes no obligation to update or correct the information contained in this press release. CEMEX is not responsible for the content of any third-party website or webpage referenced to or accessible through this press release.

 

CONTACT:

CEMEX, S.A.B. de C.V.
Media Relations
Jorge Pérez, +52(81) 8888-4334
mr@cemex.com
or
Investor Relations
Eduardo Rendón, +52(81) 8888-4256
ir@cemex.com
or
Analyst Relations
Lucy Rodriguez, +1-212-317-6007
ir@cemex.com

KEYWORDS: United States Bosnia and Herzegovina Europe North America Croatia Serbia Montenegro New York

INDUSTRY KEYWORDS: Building Systems Construction & Property Commercial Building & Real Estate Other Construction & Property

MEDIA:

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