Cemex seeks US$2bn from asset sales

Cemex seeks US$2bn from asset sales
Published: 28 January 2009

Cemex has confirmed that it aims to nearly double the amount raised from asset sales to more than US$2bn this year and use the proceeds to pay down its hefty debt.

Lorenzo Zambrano, chairman and chief executive, told the Financial Times that the Mexico-based company would step up an existing programme of divesting US$1.1bn in non-core assets to help meet total debt repayment obligations for 2009 of US$5.7bn.

Source: FT.com