Elementia sells US assets

Elementia sells US assets

M&A Corporate & Sovereign Strategy Mexico US

Mexico's Elementia said it has agreed to sell cement assets in Pennsylvania to Lehigh Hanson, a subsidiary of Germany's HeidelbergCement, for $151m. The Mexico City-based cement company will use part of the proceeds to pay off short-term debt, it said in a statement. The assets are part of Elementia's US cement business, Giant Cement, it added. Elementia paid $220m for 55% of Giant Cement and extended a $305m loan to the South Carolina-based company in December 2016. In April this year, Elementi

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