Source: Cemex, S.A.B. de C.V.

Cemex announced recently 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 (or 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 the company’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.