Cemex SAB (CX) has released an update.
Cemex SAB has announced the sale of its Dominican Republic operations to Cementos Progreso Holdings for roughly $950 million, a strategic move to reduce its emerging market exposure and reinvest in growth opportunities, particularly in the U.S. The sale includes a cement plant and other assets, with the transaction expected to close in the fourth quarter of 2024. The deal is part of Cemex’s ongoing portfolio rebalancing strategy, intending to optimize its asset base and fund investment growth.
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