Cemex sells remaining direct GCC interest

Cemex annnounced it has sold 31,483,332 shares of common stock (the "Shares") of Grupo Cementos de Chihuahua, SAB de CV (GCC), which represents approximately 9.47 per cent of the equity capital of GCC. Proceeds from the sale were around US$168m, which will be used mainly for debt reduction and general corporate purposes.

Cemex continues to have an approximate 20 per cent indirect interest in GCC through CAMCEM, SA de CV, an entity that owns a majority interest in GCC and in which Cemex has a direct interest. The sale of the GCC shares comprised the remainder of CEMEX’s direct interest in GCC which was not previously sold in February 2017, and was made in the context of the company's previously-announced global asset divestiture plans.