By Chester Yung
Global building material company Cemex S.A.B. de C.V. (CEMEX.MX)
said Thursday it will buy all of Holcim Ltd's. (HOLN.VX) assets in
the Czech Republic and pay 45 million euro ($56.7 million) in cash
to Holcim.
As part of the binding agreements with Holcim, Cemex said it
will also divest its assets in the western part of Germany to
Holcim.
Furthermore, Cemex will buy Holcim's Gador cement plant and its
Yeles cement grinding station in Spain but Holcim will keep all its
other operations there, Cemex said.
Once the transactions are closed, Cemex said it expects a
recurring improvement in its EBITDA, including synergies, of about
$20 million to $30 million.
These transactions have received approvals from all authorities
and are expected to close in the first quarter of 2015, Cemex
said.
Write to Chester Yung at chester.yung@wsj.com
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