Elementia, S.A.B. de C.V. (BMV: ELEMENT*) announced the spin off of Metal Products and Building Systems businesses of Elementia, S.A.B. de C.V. on April 29, 2019. As per the transaction, Elementia would transfer Metal Products and Building Systems businesses to a newly-created spun-off entity, named Elementia Materiales, S.A.B. de C.V., whose key will be ELEMAT. With the division of Elementia Materiales, which will be listed on the Stock Exchange, the owners will be given one share for each one they own in Elementia.

The Cement business unit would remain part of the parent company. The transaction is subject to obtainment of certain authorizations and/or approvals by the Board of Directors and/or the special committees established for this purpose, as well as approval from corresponding creditors, among others. Shareholders of Elementia, S.A.B. de C.V. have voted in favor of the transaction.

As on August 25, 2021, the transaction is expected to close before the fourth quarter of 2021. Through a statement, both companies revealed that they plan to propose to their shareholders to cancel the listing of their shares on the BMV and, if such decision is endorsed, they will proceed to launch a Public Offering of Acquisition (OPA) for the securities that are in their hands. of the investing public.

Both companies clarified that the delisting and the OPA are subject to obtaining various corporate, regulatory and third-party authorizations in general, as appropriate and that will need to be managed, including that of the General Assembly of Shareholders, which will be held on November 18, 2021.