Cemex meets asset sale targets

Cemex meets asset sale targets

M&A Debt Corporate & Sovereign Strategy Mexico Europe

Mexican cement company Cemex said Monday that it met its stated target to raise $1.5 billion to $2 billion from asset sales as part of its plans to reduce debt that started in June 2018. The Monterrey-based company also said it closed the sale of assets in the United Kingdom to the British construction materials company Breedon Group for roughly $230 million, including $30 million in debt. Cemex first announced the deal in January this year. The assets earned around $29 million in EBITDA in 2018

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