Germany: Cemex has reached a binding agreement to sell its aggregates and ready-mix concrete assets in the north and northwest regions of Germany to GP Günter Papenburg for around Euro87m. It expects to sign the final agreement in April 2019 and close the divestment during the second quarter of 2019.
The assets in Germany being divested consist of four aggregates quarries and four ready-mix concrete (RMX) plants in north Germany, and nine aggregates quarries and fourteen RMX plants in northwest Germany.
The proceeds expected to be obtained from this divestment will be used mainly for debt reduction and for general corporate purposes. The transaction is subject to standard regulatory approval.
