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Cemex to sell operations in Croatia for 230.9 million euros

Staff writer |
Cemex S.A. has signed an agreement for the sale of its operations in Croatia, including its assets in Bosnia and Herzegovina, Montenegro and Serbia, to Duna-Drava Cement for approximately €230.9 million.

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The assets being sold mainly consist of 3 cement plants (approximately 1.66 million tons of cement sold in 2014), 2 aggregate quarries (approximately 0.16 million metric tons of aggregates sold in 2014) and 7 ready-mix plants (approximately 0.25 million cubic meters of ready mix sold in 2014).

CEMEX’s operations in Croatia, including Bosnia & Herzegovina, Montenegro and Serbia, had net sales of approximately U.S.$138 million in 2014.

The proceeds obtained from this transaction will be used mainly for debt reduction and for general corporate purposes.

The closing of this transaction is subject to the satisfaction of standard conditions for this type of transaction, which includes authorization by regulators. We currently expect to finalize this transaction during the fourth quarter of 2015.

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