Europe: Cemex has completed the sale of its business operations in Austria and Hungary to Germany's Rohrdorfer Group for about Euro160m.
Cemex's Austrian operations, which comprise 24 aggregate quarries and 34 ready-mix plants, reported Euro219m in net sales in 2014. The operations in Hungary include five aggregate quarries and 34 ready-mix facilities and had net sales of some Euro42.7m in 2014.
Cemex hired Bank of America Merrill Lynch, Citigroup, BNP Paribas and Morgan Stanley & Co International plc to act as financial advisors in this transaction. The proceeds from the sale will be used mainly to finance general corporate purposes and to pay off debt.