The agreement has been signed between a Spanish subsidiary of Cemex, as seller, and Cementos Progreso Holdings, through a subsidiary, and its strategic partners, as buyers.

Cemex will sell its operations in the Dominican Republic for approximately US$950 million, in a transaction that also includes the export business to Haiti, as announced this Monday by the Mexican cement company.

The agreement has been signed between a Spanish subsidiary of Cemex, as seller, and Cementos Progreso Holdings, through a subsidiary, and its strategic partners, as buyers.

The divested assets consist primarily of a cement plant in the Dominican Republic that includes two integrated production lines and related cement, concrete and aggregates assets, and marine terminals.

The divestiture is subject to compliance with closing conditions. Cemex currently anticipates completing this transaction during the fourth quarter of 2024. JP Morgan and Lazard are acting as financial advisors to Cemex.

It is anticipated that the resources obtained from this divestiture will be used to finance the company's growth strategy through complementary investments in its main markets, particularly in the United States, and other corporate purposes.

"This transaction allows us to significantly advance our portfolio rebalancing strategy, which focuses on reducing our exposure in emerging markets and allocating resources for complementary growth investments in priority markets, mainly the United States," said the CEO of Cemex, Fernando A. González.