CEMEX and GCC Agree on Terms and Conditions for Sale of Certain U.S. Assets
- Transaction subject to customary closing conditions
CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced today that it has reached an agreement with Grupo Cementos de Chihuahua,
S.A.B. de C.V. (“GCC”) on the terms and conditions regarding the sale to GCC of certain assets in the U.S. originally announced on
May 2, 2016.
The assets being sold by an affiliate of CEMEX to an affiliate of GCC in the U.S. have changed and mainly consist of CEMEX’s
cement plant in Odessa, Texas, two cement terminals and the building materials business in El Paso, Texas and Las Cruces, New
Mexico. CEMEX’s cement plant in Lyons, Colorado and cement terminal in Florence, Colorado are no longer part of the assets being
sold to GCC. Upon closing of this transaction GCC will pay CEMEX U.S.$306 million.
Closing of this transaction is subject to customary closing conditions, which include the satisfaction of various conditions
precedent, consisting mainly of approvals from the United States competition authorities and GCC’s shareholders, among others, as
well as GCC obtaining financing to purchase the assets. We currently expect to finalize this transaction before the end of
2016.
Citigroup is acting as financial advisor to CEMEX in this transaction.
CEMEX is a global building materials company that provides high quality products and reliable service to customers and
communities in more than 50 countries. Celebrating its 110th anniversary, CEMEX has a rich history of improving the well-being of
those it serves through innovative building solutions, efficiency advancements, and efforts to promote a sustainable future.
For more information on CEMEX, please visit: www.cemex.com
For more information on GCC, please visit: www.gcc.com
This press release contains forward-looking statements and information that are necessarily subject to risks, uncertainties,
and assumptions. Many factors could cause the actual results, performance, or achievements of CEMEX or the transaction herein
described to be materially different from those expressed or implied in this release, including not satisfying all customary
closing conditions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described herein. CEMEX assumes no obligation to update or correct the
information contained in this press release. CEMEX is not responsible for the content of any third-party website or webpage
referenced to or accessible through this press release.
CEMEX, S.A.B. de C.V.
Media Relations:
Jorge Pérez, +52 (81) 8888-4334
mr@cemex.com
or
Investor Relations:
Eduardo Rendón, +52 (81) 8888-4256
ir@cemex.com
or
Analyst Relations:
Lucy Rodriguez, +1-212-317-6007
ir@cemex.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20160829005337/en/