Cemex to Sell Ready-Mixed Concrete and Aggregate Assets in Germany

Cemex has reached a binding agreement to sell its aggregate and ready-mix concrete assets in northern and northwestern Germany to GP G Günter Papenburg for a total price of about 87 million euros. They expect the definitive agreement to be signed in April 2019 and the divestiture to be completed in the second quarter of 2019. The divested assets

in Germany include four aggregate quarries and four ready-mix concrete plants in northern Germany and nine aggregate quarries and 14 ready-mix concrete plants in northwestern Germany. The proceeds from this divestiture are

expected to be used primarily for debt reduction and general corporate purposes. The deal is being approved by standard regulators.