Cemex prepares defence against Spanish CNC accusations

Cemex prepares defence against Spanish CNC accusations
Published: 07 January 2011

Cemex is preparing its answer to a case study started by Spain’s competition watchdog CNC on alleged anti-competition practices in Navarre region, northern Spain, from 2006 to 2008.

The CNC is investigating whether the Mexican company had agreements with other sector players to fix prices infringing the fair competition rules, Spanish daily Cinco Dias cited today an information Cemex sent to US Securities and Exchange Commission (SEC).

The procedure against Cemex started in December 2009 and CNC has a deadline until June 2011 to make a decision on the case.

Cemex said it sent this notification to SEC as on January 4 Cemex announced the offering of USD 1 billion (EUR 763m) aggregate principal amount of senior secured notes. The notes will mature in 2018 and will pay a coupon of 9.00% annually.