Cementos Progreso Holdings SL signed an agreement to acquire Operations in Costa Rica and El Salvador of CEMEX, S.A.B. de C.V. (BMV:CEMEX CPO) for approximately $326 million.
December 28, 2021
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Cementos Progreso Holdings SL signed an agreement to acquire Operations in Costa Rica and El Salvador of CEMEX, S.A.B. de C.V. (BMV:CEMEX CPO) for approximately $326 million on December 29, 2021. The proceeds from the sale will be used to fund Cemex' bolt-on investment growth strategy in its key markets, reduce debt and other corporate purposes. The transaction hinges on regulatory clearance, competition authorities and is set to close in the first half of 2022.
Milbank LLP acted as legal advisor to Cementos Progreso Holdings SL. Citigroup Inc. (NYSE:C) acted as financial advisor to Cementos Progreso Holdings SL. Juan Aguayo, León López, Natalia Tallada and Antonio Barba of Cuatrecasas, Gonçalves Pereira, S.L.P. acted s legal advisor to Cementos Progreso Holdings SL.
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.
Cementos Progreso Holdings SL signed an agreement to acquire Operations in Costa Rica and El Salvador of CEMEX, S.A.B. de C.V. (BMV: CEMEX CPO) for approximately $326 million.
CEMEX, S.A.B. DE C.V. 
