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Fri August 23 2019

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Cemex sells some German assets

14 May Cemex has signed an agreement to sell some of its quarries and ready-mix plants in Germany in a deal worth about €87m (£75m).

The aggregates and ready-mix assets, which are in the north and north-west regions of Germany, are being sold to GP Günter Papenburg.

Cemex is selling four quarries and four ready-mix facilities in the north of the country and nine quarries and 14 ready-mix facilities in the north-west.

The proceeds will be used mainly for debt reduction and for general corporate purposes.

The deal is expected to close this quarter.

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MPU

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