{"id":220939,"date":"2024-08-06T08:08:34","date_gmt":"2024-08-06T12:08:34","guid":{"rendered":"https:\/\/dr1.com\/news\/?p=220939"},"modified":"2024-08-06T10:00:59","modified_gmt":"2024-08-06T14:00:59","slug":"cemex-to-divest-its-operations-in-the-dominican-republic-guatemala-based-company-is-behind-the-investment","status":"publish","type":"post","link":"https:\/\/dr1.com\/news\/2024\/08\/06\/cemex-to-divest-its-operations-in-the-dominican-republic-guatemala-based-company-is-behind-the-investment\/","title":{"rendered":"Cemex to divest its operations in the Dominican Republic; Guatemala-based company is behind the investment"},"content":{"rendered":"\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-full\"><img loading=\"lazy\" width=\"600\" height=\"299\" src=\"https:\/\/dr1.com\/news\/wp-content\/uploads\/2022\/09\/Cemex-logo-e1662038064120.png\" alt=\"\" class=\"wp-image-185407\"\/><\/figure><\/div>\n\n\n\n<p>Cemex, the Mexican cement giant, announced an agreement has been signed for the sale of its operations in the Dominican Republic, for approximately US$950 million. The transaction includes export businesses to Haiti.<\/p>\n\n\n\n<p>The agreement has been signed between a Spanish subsidiary of Cemex, as seller, and Cementos Progreso Holdings, S.L., through a subsidiary, and its strategic partners, as buyers. An online search reveals that Cementos Progreso is a cement and hardware store company founded in Guatemala.<\/p>\n\n\n\n<p>The divested assets mainly consist of a cement plant in the Dominican Republic included its two integrated production lines and related cement, concrete, aggregates and marine terminal assets. The Dominican Republic operation is one of the leading cement players in the Caribbean region.<\/p>\n\n\n\n<p>\u201cThis transaction advances us significantly in our portfolio rebalancing strategy that is focused on reducing our exposure in Emerging Markets and redeploying capital into growth investments in priority markets, primarily the US,\u201d said Fernando A. Gonzalez, CEO of Cemex.<\/p>\n\n\n\n<p>The divestment is pending the outcome of closing conditions. Cemex currently expects to finalize this transaction during the fourth quarter of 2024.<\/p>\n\n\n\n<p>Proceeds from this divestment are expected to be used to fund the company\u2019s investment growth strategy in its key markets, particularly the United States, and other corporate purposes.<\/p>\n\n\n\n<p>Read more in Spanish:<br><a previewlistener=\"true\" href=\"https:\/\/progreso.com\/nosotros\/nuestra-historia\/\">Progreso <\/a><br><a href=\"https:\/\/www.cemex.com\/w\/cemex-to-divest-its-operations-in-the-dominican-republic\">Cemex <\/a><\/p>\n\n\n\n<p>6 August 2024<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cemex, the Mexican cement giant, announced an agreement has been signed for the sale of its operations in the Dominican Republic, for approximately US$950 million. The transaction includes export businesses to Haiti. The agreement has been signed between a Spanish subsidiary of Cemex, as seller, and Cementos Progreso Holdings, S.L., through a subsidiary, and its &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/dr1.com\/news\/2024\/08\/06\/cemex-to-divest-its-operations-in-the-dominican-republic-guatemala-based-company-is-behind-the-investment\/\" class=\"more-link\">Read more\u2026<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[330,3],"tags":[],"_links":{"self":[{"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/posts\/220939"}],"collection":[{"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/comments?post=220939"}],"version-history":[{"count":4,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/posts\/220939\/revisions"}],"predecessor-version":[{"id":221006,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/posts\/220939\/revisions\/221006"}],"wp:attachment":[{"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/media?parent=220939"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/categories?post=220939"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dr1.com\/news\/wp-json\/wp\/v2\/tags?post=220939"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}