CEMEX SAB is exploring the sale of his Colombian business while the Mexican cement manufacturer leaves non -essential assets To focus on North America and Europethey said familiar people with the matter.
The company based in Monterrey, Mexico, is working with advisors to Evaluate the potential interest in the unitsaid the people, who asked not to be identified because the discussions are private.
According to sources, Colombian operations could attract the interest of possible interested parties, including Holcim Ltd., the largest cement in the world, and Cementos Molins in Spain. The business could have an estimated value of between US $ 700 and US $ 1 billion.
The considerations are that it is an early stage, the moment and the valuation are fluid and the conversations may not lead to a transaction. Some bidders could be reluctant to offer the requested pricepeople said.
A representative of CEMEX declined to comment on sales of specific assets, and just said that “The company has been in the process of rebalanced its portfolio in recent yearsand that generates several rumors. ”
“As always, if there is something official to communicate, they will listen directly to us,” said the spokesman. The representatives of Holcim and Molins declined to comment.
CEMEX, who recovered his investment grade rating last year after losing it during the 2009 financial crisis, has focused on reducing its debtexpand its presence in key markets such as the United States, Mexico and Europe, and Sell assets in emerging markets.
The company received US $ 2.2 billion for the sale of assets in emerging markets last year, such as its operations in the Dominican Republic for US $ 950 million. The company is looking for more agreements, executives said at a recent telephone conference with investors. This month, Jaime Muguiro, head of CEMEX operations in the United States, was appointed executive director, in the last indication of the company’s approach in the US market.
CEMEX agreed to sell his Guatemalan business to Holcim last September. The Swiss company of construction materials also entered the construction market of Peru in August through two smaller acquisitions. Holcim is making selective acquisitions while moving forward with his plans to quote his North American business.
