Cemex increases stake in LatAm business

Cemex increases stake in LatAm business

Equity Corporate & Sovereign Strategy Capital Markets Mexico Colombia Europe

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

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