Cemex sells German assets

Cemex sells German assets

M&A Corporate & Sovereign Strategy Debt Mexico Europe

Mexico's Cemex said it has agreed to sell its aggregates and ready-mix subsidiaries in Germany to GP Günter Papenburg for roughly €87m ($98.7m). Cemex expects to sign a final agreement in April and close the sale before the end of the second quarter this year. The deal involves 13 aggregates quarries and 18 ready-mix facilities in northern and western Germany, Cemex said in a statement. The cement maker also said it will use the money from the sale to pay off debt and cover general corporate exp

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