Cemex sells assets in the United Kingdom for US $235 million

Mexican cement company Cemex, one of the largest in the world, said Wednesday that one of its subsidiaries signed an agreement for the sale of some assets in the United Kingdom to Breedon Group, for some US $235 million, which includes US $31 million of debt.

Cemex, with businesses in more than 50 countries, said the operation includes 49 ready-mix concrete plants, 28 aggregates quarries, four storage warehouses and a cement terminal, among other assets, that generated an operating flow of about US $21 million in 2018.

The transaction is expected to be completed during the second quarter of the year, the cement company said in a statement.

Cemex, whose shares closed the day before at 7.07 pesos with a 1.39% decline, added that the revenues it expects to obtain from the operation will be used mainly for debt reduction.

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