Mexican building materials producer Cemex has announced that it is in the process of divesting certain operations in Colombia. The divestment is expected to take place through several separate transactions with different parties by the end of the year.
In a first step, the company entered into an agreement with the Holcim Group to sell the Caracolito cement plant (figure) and the Santa Rosa grinding mill together with portfolio assets in ready‑mix concrete, aggregates and mortar for a purchase price of 485 million USD.
Additionally, Cemex is negotiating with other parties the sale of other assets in the same geographic area that were not included in the transaction with Holcim, which the company expects to generate approximately 70 million USD on top.
