Cemex signed a deal for the sale of its Dominican Republic operations to Cementos Progreso and strategic partners for a total consideration of $95 million.
The divested assets mainly consist of one cement plant, which features two integrated production lines, and related cement, concrete, aggregates and marine terminal facilities. The San Pedro Macoris operation is one of the leading cement players in the Caribbean region.
“This transaction advances us significantly in our portfolio rebalancing strategy which is focused on reducing our exposure in emerging markets and redeploying capital into growth investments in priority markets, primarily the U.S.” said Fernando A. Gonzalez, CEO of Cemex.
The divestment is subject to satisfaction of closing conditions. Closing is expected during the fourth quarter of 2024.
J.P. Morgan and Lazard are serving as financial advisors to Cemex.
