Cemex SAB successfully completed the sale of its operations in the Philippines, securing approximately $800 million through agreements with DACON Corporation, DMCI Holdings, Inc., and Semirara Mining & Power Corporation. This transaction involved divesting a 100% equity interest in Cemex Asian South East Corporation and other related assets.
As part of the agreement, the buyers assumed $387 million in financial debt, further streamlining Cemex's financial obligations. This strategic move marks Cemex’s exit from the Philippine market, aligning with its broader strategy to rebalance its portfolio.
The divestiture allows Cemex to focus on core, higher-growth markets and supports its commitment to disciplined capital allocation. This action is expected to contribute to the company's deleveraging efforts and enhance its financial flexibility.
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