Cemex is to sell its aggregates and ready-mix assets in North and North-West regions of Germany to GP Günter Papenburg for approximately €87 million.
The company expects to sign a final agreement for the sale of assets during April and to close this divestment during the second quarter of 2019.
Cemex’s assets include four aggregates quarries and four ready-mix facilities in North Germany and nine aggregates quarries and 14 ready-mix facilities in North West Germany.
The proceeds expected to be obtained from this divestment will be used mainly for debt reduction and for general corporate purposes.
The closing of the transaction is subject to the satisfaction of standard conditions, which includes authorisation by regulators.