CEMEX selling off Baltic and Nordic properties to Schwenk

Published at: 2019-02-25 10:55 | Author: CIJEurope.com
CEMEX is selling off a portfolio of assets in the Nordic and Baltic regions to the German building materials group Schwenk. The value of the deal comes to roughly €340m. In all, CEMEX is turning over 15 Baltic assets and another 11 assets in the Nordic countries. The portfolio’s 2018 EBITDA came to €27.3m According to the AP, CEMEX will be using proceeds from the divestment for corporate purposes and as part of a debt reduction exercise. The official closing of the deal is expected during the first quarter of 2019.

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