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CEMEX to sell operations in Bangladesh and Thailand


Siam City Cement to acquire divestments for US$53 million in second quarter of 2016

CEMEX have signed an agreement for the sale of their operations in Bangladesh and Thailand to Siam City Cement Public Company Ltd for approximately US$53 million.

The proceeds obtained from the transaction will be used mainly for debt reduction and general corporate purposes.

Completion of the agreement, which is subject to the satisfaction of standard conditions, is expected to take place during the second quarter of 2016.

Meanwhile, a subsidiary of CEMEX has presented an application to the Philippine authorities for the potential sale of a minority stake in its assets in the Philippines.

CEMEX Holdings Philippines Inc (CHP), an indirectly wholly-owned subsidiary of CEMEX España SA, have filed a registration statement with the Securities and Exchange Commission (SEC) of the Philippines relating to an initial public offering of CHP’s common shares.

Subject to obtaining the corresponding approvals from the Philippine SEC and the Philippine Stock Exchange (PSE) for the listing of CHP’s shares on the PSE, CHP intend to – in a public offering to investors in the Philippines, and in a concurrent private placement to eligible investors outside the Philippines – offer a minority interest in CHP’s capital stock.

CHP’s assets consist primarily of CEMEX’s cement manufacturing assets in the Philippines.

The filing of the registration statement with the Philippine SEC is a first step in one of the alternatives CEMEX are exploring in the context of the company’s previously announced asset divestiture plan.

CEMEX say they are continuing to explore other alternatives, and the ultimate implementation of any such alternative remains at their discretion.

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