Grupo Cementos de Chihuahua, S.A.B. de C.V.’s $209 Million Shares Offering


Ritch, Mueller, Heather y Nicolau, Cleary Gottlieb and Shearman & Sterling have advised on the transaction

Cemex, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) and Grupo Cementos de Chihuahua, S.A.B. de C.V. (“GCC”) (BMV: GCC*) completed the offerings including an aggregate of up to 76,483,332 shares of common stock (the “Shares”) of Grupo Cementos de Chihuahua, S.A.B. de C.V. (“GCC”) owned by CEMEX at a price range of between Mexican pesos 95.00 to 115.00 per share, which includes 9,976,087 shares available to the underwriters of the offerings pursuant to a 30-day option to purchase such shares expected to be granted to them by CEMEX.

CEMEX currently directly owns 23% of the outstanding share capital of GCC and, additionally, a minority interest in CAMCEM, an entity which owns a majority interest in GCC as a result of GCC’s previously announced restructuring.

Citigroup Global Markets Inc. and JP Morgan Securities, LLC acted as Initial Purchasers.

Ritch, Mueller, Heather y Nicolau, S.C. has advised Cemex and Grupo Cementos de Chihuahua, S.A.B. de C.V. with Luis A. Nicolau Gutiérrez.

Cleary Gottlieb Steen & Hamilton has advised Cemex and Grupo Cementos de Chihuahua, S.A.B. de C.V. with Duane McLaughlin (Picture), Alejandro Canelas Fernández, Anne Xu, Marc Rotter, Brandon Hammer, Germán Savastano and Jessica Repond.

Shearman & Sterling has advised Citigroup Global Markets Inc. and JP Morgan Securities with Antonia Stolper, Jeffrey Tate, Antonio Herrera Cuevas, Azeka Lobo, Ana María Alpizar and Lili Abascal.

Involved fees earner: Luis Nicolau Gutiérrez – Ritch, Mueller, Heather y Nicolau, SC; Antonia Stolper – Shearman & Sterling; Antonio Herrera Cuevas – Shearman & Sterling; Jeffrey Tate – Shearman & Sterling; Azeka Lobo – Shearman & Sterling; Duane McLaughlin – Cleary Gottlieb Steen & Hamilton; Alejandro Canelas Fernandez – Cleary Gottlieb Steen & Hamilton; Marc Rotter – Cleary Gottlieb Steen & Hamilton; Brandon Hammer – Cleary Gottlieb Steen & Hamilton; Anne Xu – Cleary Gottlieb Steen & Hamilton;

Law Firms: Ritch, Mueller, Heather y Nicolau, SC; Shearman & Sterling; Cleary Gottlieb Steen & Hamilton;

Clients: Citigroup Global Markets Ltd; JP Morgan Securities; CEMEX; Grupo Cementos de Chihuahua SAB de CV;

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Author: Ambrogio Visconti.