Cemex SAB Completes $800 Million Philippines Exit

Cemex SAB (CX) has released an update.

Cemex SAB has successfully sold its operations in the Philippines, securing approximately $800 million through agreements with DACON Corporation, DMCI Holdings, Inc., and Semirara Mining & Power Corporation. The transaction involves divesting a 100% equity interest in Cemex Asian South East Corporation and other related assets, with the buyers assuming $387 million in financial debt. This move marks Cemex’s strategic exit from the Philippine market, potentially impacting its global operational and financial landscape.

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