About Us - Press Release - CEMEX completes sale of Australian operations
October 1, 2009
CEMEX, S.A.B. de C.V. (NYSE: CX) announced today 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.
CEMEX is a global building materials company that provides high-quality products and reliable service to customers and communities in more than 50 countries throughout the world. CEMEX has a rich history of improving the well-being of those it serves through its efforts to pursue innovative industry solutions and efficiency advancements, and to promote a sustainable future. For more information, visit www.cemex.com.
This press release contains forward-looking statements and information that are necessarily subject to risks, uncertainties, and assumptions. Many factors could cause the actual results, performance, or achievements of CEMEX to be materially different from those expressed or implied in this release, including, among others, changes in general economic, political, governmental and business conditions globally and in the countries in which CEMEX does business, changes in interest rates, changes in inflation rates, changes in exchange rates, the level of construction generally, changes in cement demand and prices, changes in raw material and energy prices, changes in business strategy, and various other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. CEMEX assumes no obligation to update or correct the information contained in this press release.