Cemex to Buy UK's RMC GroupIn a deal valued at $5.8 billion, Mexico's Cemex will buy the UK's RMC Group. The acquisition by Cemex, the world's third-largest cement company, is designed to double the Monterrey-based company's revenues and expand its presence in Europe. In the biggest acquisition ever by a Mexico-based company, Cemex agreed at the end of September to pay $4.15 billion and assume RMC's debt. RMC is the world's leading maker of ready-mix concrete and one of Europe's biggest cement producers with operations in 22 countries. It posts $8.8 billion in annual revenue. Recently, it has been cutting costs and closing plants. Citigroup and Goldman Sachs advised the Mexican company.
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