Cemex SAB (CX) has released an update.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Cemex SAB has announced the sale of its Dominican Republic operations to Cementos Progreso Holdings for roughly $950 million, a strategic move to reduce its emerging market exposure and reinvest in growth opportunities, particularly in the U.S. The sale includes a cement plant and other assets, with the transaction expected to close in the fourth quarter of 2024. The deal is part of Cemex’s ongoing portfolio rebalancing strategy, intending to optimize its asset base and fund investment growth.
For further insights into CX stock, check out TipRanks’ Stock Analysis page.