Slaughter and May advised Cemex, S.A.B. de C.V. on the sale by a subsidiary of certain assets in the UK to Breedon Group, for a total consideration of approximately U.S.$235 million, which includes approximately U.S.$31 million of debt.
The active assets being divested consist of 49 ready-mix plants, 28 aggregate quarries, 4 depots, 1 cement terminal, 14 asphalt plants, and 4 concrete products operations. Part of CEMEX’s Paving Solutions business in the United Kingdom, together with some inactive sites, are also included in the sale to Breedon. After completion of the divestiture, CEMEX will still retain a substantial integrated business in the United Kingdom encompassing, among other things, cement production, ready-mix concrete, aggregates, asphalt, and paving solutions.
CEMEX S.A.B. de C.V., known as Cemex, is a Mexican multinational building materials company headquartered in San Pedro, near Monterrey, Mexico. It manufactures and distributes cement, ready-mix concrete and aggregates in more than 50 countries.
The Slaughter and May team included Corporate: Robin Ogle (partner), Nicholas Hyde (associate); Real Estate: John Nevin (Picture); Competition: Claire Jeffs (partner).
Law Firms: Slaughter and May;