December 18, 2020
Mexican cement company Cemex said it plans to spend COP352 billion ($103 million) to increase its stake in the Colombian-listed holding company Cemex Latam Holdings to 92.6% from 73.2%.
Cemex's Spanish division, Cemex España, offered in September to buy all outstanding shares in Cemex Latam for COP3,250 per share. It ended up agreeing to buy 108 million shares, or 72.4% of outstanding stock, and plans to settle the deal on December 18, Cemex said in a press release on Wednesday.
Citi advised Cem
Mexican cement company spends $103 mln to buy an additional 19% of the Bogotá-listed holding company