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CEMEX set to complete German asset disposals

CEMEX

Company signs final agreement to sell aggregates and ready-mixed concrete assets in Germany

CEMEX have signed the final agreement to sell their aggregates and ready-mixed concrete assets in the north and north-west regions of Germany to GP Günter Papenburg AG for approximately €87 million.

The assets being divested consist of four aggregates quarries and four ready-mixed concrete facilities in north Germany, and nine aggregates quarries and 14 ready-mixed concrete facilities in north-west Germany.

The divestment is currently expected to close during the second quarter of 2019 and CEMEX say the proceeds expected to be obtained will be used mainly for debt reduction and for general corporate purposes.

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