Cemex Sab De Cv (CX) has released an update.
Cemex, a global construction materials company, has announced the sale of its Philippine operations to DACON Corporation and other local partners, in a move to rebalance its portfolio. The deal includes a 100% equity interest in Cemex Holdings Philippines and a 40% indirect equity interest in two other companies, with the transaction expected to complete by the end of 2024. The proceeds from this divestiture will be used to fund growth investments, reduce debt, and for other corporate purposes.
For further insights into CX stock, check out TipRanks’ Stock Analysis page.
