Brief: Inmocemento Informs On Binding Agreement Of Cementos Portland Valderrivas For Sale Of Stake In Giant Cement

Inmocemento SA

28/11/2024 06:59

Nov 28 (Reuters) - Inmocemento SA  IMCO.MC :
    * INFORMS ON BINDING AGREEMENT OF CEMENTOS PORTLAND
VALDERRIVAS
FOR SALE OF STAKE IN GIANT CEMENT
    * CLOSING OF TRANSACTION EXPECTED TO TAKE PLACE IN Q1 2025
    * TRANSACTION, NET OF DEBT AND TAX ADJUSTMENTS, COULD
REPRESENT
CASH INFLOW OF ABOUT USD 200 MILLION AND CAPITAL GAIN OF AROUND
USD 145 MILLION FOR CPV
    * TRANSACTION FOR A PRICE OF ABOUT USD 600 MILLION
(ENTERPRISE
VALUE)
    * ACQUISITION DOES NOT INCLUDE KEYSTONE PLANT AND CERTAIN
OTHER
REAL ESTATE ASSETS, WHICH WILL BE SPUN OFF PRIOR TO CLOSING
    * HEIDELBERG MATERIALS NORTH AMERICA BUYS 100% OF GIANT
CEMENT
HOLDING INC AND ITS SUBSIDIARIES

Source text:  ID:nCNM7TzZDD 
Further company coverage:  IMCO.MC 

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