Advent International Corporation completed the acquisition of 65% stake in Neoris, Inc. from CEMEX, S.A.B. de C.V. (BMV:CEMEX CPO) for approximately $119 million.
October 24, 2022
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Advent International Corporation agreed to acquire a 65% stake in Neoris, Inc. from CEMEX, S.A.B. de C.V. (BMV:CEMEX CPO) for approximately $120 million on July 12, 2022. As part of the creation of the partnership, Advent will acquire from CEMEX a 65% stake in NEORIS. CEMEX will retain a 35% stake and remain as a key strategic partner and customer of NEORIS. Subject to satisfaction of closing conditions, including approvals from antitrust authorities, Advent and CEMEX expect to finalize the transaction during the second half of 2022. S. Todd Crider, Juan M. Naveira, Marcelo B. Lorenzen, Lori E. Lesser, Jessica Cohen, Rachelle Broida and Benjamin Hart, Monica Yrrarazabal, Russell Light, Peter Guryan, Kelly Karapetyan and Jamie C. Logie, Tristan Brown, Ryan Kenny and Megan Arrowsmith, Steven R. DeLott, Pilar L. Ferreira of Simpson Thacher acted as legal advisor to funds managed by Advent International Corporation in connection with its acquisition. mayer brown llp acted as legal advisor to CEMEX, S.A.B. de C.V.
Advent International Corporation completed the acquisition of 65% stake in Neoris, Inc. from CEMEX, S.A.B. de C.V. (BMV:CEMEX CPO) for approximately $119 million on October 25, 2022. CEMEX's retained 34.8% stake in Neoris.
Cemex SAB de CV is a Mexico-based operating and holding company primarily engaged, directly or indirectly, through subsidiaries, in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates, clinker and other globally provided construction materials. The construction-related services supply customers and communities in over 50 countries throughout the world. The Company operates in various locations, including Mexico, the United States, Europe, South America, Central America, the Caribbean, Asia, the Middle East and Africa. The cement production facilities are located in Mexico, the United States, Spain, Egypt, Germany, Colombia, the Philippines, Poland, the Dominican Republic, the United Kingdom, Panama, Puerto Rico, Thailand and Nicaragua. The Company is a supplier of aggregates, primarily the crushed stone, sand and gravel, used in various forms of construction.
Advent International Corporation completed the acquisition of 65% stake in Neoris, Inc. from CEMEX, S.A.B. de C.V. (BMV: CEMEX CPO) for approximately $119 million.
CEMEX, S.A.B. DE C.V. 
