|
contents | business | |||||||||
| Cemex completes sale of Australian operations Mexican cement maker Cemex announced that it has completed the previously announced sale of its Australian operations to Holcim Group. The proceeds from this sale are approximately A$2.02 billion (approximately US$1.7 billion) and will be used to reduce debt and to strengthen Cemex's liquidity position. This asset divestment marks another milestone in Cemex's efforts to regain its financial flexibility; these include the refinancing of US$15 billion dollars of debt and the global offering of 1.495 billion Ordinary Participation Certificates (CPOs), including the over-allotment option, with estimated net proceeds of US$1.782 billion write your comments about the article :: © 2009 Construction News :: home page |