Cemex US is selling its Florida gypsum wallboard business based in Florida to US LBM.
The proceeds obtained from this transaction, which will not be for a material amount, will be used mainly by Cemex USA’s affiliates for debt reduction and for general corporate purposes.
The closing of this divestment is subject to the satisfaction of standard conditions for this type of transaction. Cemex USA currently expects to finalize this transaction at any time prior to the end of 2015.
Bank of America Merrill Lynch and Citigroup acted as financial advisors to Cemex in this transaction.