Cemex Signs Deal to Buy Holcim's Czech Assets, Divest of Assets in Western Germany to Holcim

    By Chester Yung 
 

Global building material company Cemex S.A.B. de C.V. (CEMEX.MX) said Thursday it will buy all of Holcim Ltd's. (HOLN.VX) assets in the Czech Republic and pay 45 million euro ($56.7 million) in cash to Holcim.

As part of the binding agreements with Holcim, Cemex said it will also divest its assets in the western part of Germany to Holcim.

Furthermore, Cemex will buy Holcim's Gador cement plant and its Yeles cement grinding station in Spain but Holcim will keep all its other operations there, Cemex said.

Once the transactions are closed, Cemex said it expects a recurring improvement in its EBITDA, including synergies, of about $20 million to $30 million.

These transactions have received approvals from all authorities and are expected to close in the first quarter of 2015, Cemex said.

Write to Chester Yung at [e-mail]

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