Cemex, Lafarge terminate Iberian joint ventures

Cemex, Lafarge terminate Iberian joint ventures

Cemex SA said Thursday it has unwound its joint ventures with France ’s Lafarge SA, as agreed earlier this year. In a press release, Cemex said it has has dissolved the 50-50 partnership in Readymix Asland in Spain and Betecna Betao Pronto in Portugal .

Lafarge now has 100 per cent of the two concerns, while Cemex received EUR50m in cash, 29 concrete plants and five aggregates quarries in Spain . A sixth quarry is subject to regulatory approval. The joint-venture was among assets acquired when Cemex bought RMC Group of the U.K. in March for $5.8bn.