CEMEX Sells Remaining Direct Interest in Grupo Cementos De Chihuahua
CEMEX, S.A.B. de C.V. ("CEMEX") (NYSE:CX) announced that it has sold 31,483,332 shares of common stock (the "Shares") of Grupo
Cementos de Chihuahua, S.A.B. de C.V. ("GCC"), which represents approximately 9.47% of the equity capital of GCC. Proceeds from the
sale were approximately U.S.$168 million, which will be used mainly for debt reduction and for general corporate purposes.
CEMEX continues to have an approximate 20% indirect interest in GCC through CAMCEM, S.A. de C.V., an entity that owns a majority
interest in GCC and in which CEMEX has a direct interest. The sale of the GCC Shares comprised the remainder of CEMEX’s direct
interest in GCC which was not previously sold in February of 2017, and was made in the context of CEMEX's previously announced
global asset divestiture plans.
In connection with the sale of the GCC Shares, CEMEX entered into forward contracts on the stock price of GCC with two financial
institutions, which are payable in cash, but may be unwound earlier at CEMEX’s option. CEMEX will retain exposure to the GCC stock
price. The transactions have an 18-month tenor. GCC is not a party to these forward contracts.
CEMEX is a global building materials company that provides high-quality products and reliable services to customers and
communities in more than 50 countries. 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
This press release contains forward-looking statements and information that are necessarily subject to risks, uncertainties,
and assumptions. CEMEX assumes no obligation to update or correct the information contained in this press release.
CEMEX, S.A.B. de C.V.
Media Relations:
Jorge Perez, +52(81) 8888-4334
mr@cemex.com
or
Investor Relations:
Eduardo Rendon, +52(81) 8888-4256
ir@cemex.com
or
Analyst Relations:
Lucy Rodriguez, +1(212) 317-6007
ir@cemex.com
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