Cemex Latam Holdings, S.A., a wholly owned subsidiary of Cemex España, S.A., presented to the Superintendencia Financiera de Colombia an application to list its shares on the Colombian stock exchange and to offer a minority of Cemex Latam’s shares in a public offering to investors in Colombia and, in a concurrent private placement, to eligible investors outside of Colombia. Cemex Latam’s assets are expected to include substantially all of Cemex’s assets in Central and South America, which does not include Mexico.
This application is one component of the previously announced asset sale alternatives Cemex is pursuing in connection with its ongoing initiative to reduce debt and extend its debt maturities. Cemex continues to pursue its previously announced asset sale alternatives, and ultimate implementation of any of such alternatives—which include the potential sales of: (i) a minority stake in operations in select countries; (ii) selected U.S. assets; (iii) selected European assets; and/or (iv) other non-core assets—remains at the discretion of Cemex.
