Pricing Announced for Cemex’s 15.6 Percent Stake in GCC

On Feb. 9 Cemex, S.A.B. de C.V. and Grupo Cementos de Chihuahua, S.A.B. de C.V. priced their previously announced secondary offerings of 51,750,000 shares of common stock of GCC, currently owned by Cemex, at a price of 95 Mexican pesos ($4.63) per share, which includes 6,750,000 shares available to the underwriters of the offerings for overallotment and that may be purchased pursuant to a 30-day option granted to the underwriters by Cemex.

Such offerings are comprised of shares offered (a) in a public offering to investors in Mexico authorized by the Mexican National Banking and Securities Commission conducted through the Mexican Stock Exchange and (b), in a concurrent private placement, to eligible investors outside of Mexico. Cemex and GCC expect to close the offerings on or about Feb. 15, subject to satisfaction of customary closing conditions.

If all 51,750,000 shares are sold by Cemex in the offerings, Cemex will have sold 15.6 percent of its 23 percent direct ownership interest in GCC. After the offerings, Cemex will own a 7.4 percent direct interest in GCC and also have a minority interest in CAMCEM, an entity which owns a majority interest in GCC. CEMEX is selling the shares as part of its asset divestiture plans.

The gross proceeds from the offerings are estimated to be approximately $240 million, before deducting discounts, commissions and estimated offering expenses.

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