Displaying items by tag: divestment

Spain: Hanson Spain has agreed to sell some of its assets including its Madrid waste management plant to Cemex España. The buyer said that the investments promise a high return and are part of the strategic global strengthening of its vertically integrated positions near high-growth urban centres. It expects the deal to close in early 2022.

Europe, Middle East, Africa and Asia regional president Sergio Menéndez said “This acquisition will allow us to better serve our clients by integrating and complementing our portfolio to provide a comprehensive and sustainable offering in Cemex’s high-growth regions of Madrid and the Balearic Islands.” He added “This is another example of the efforts we make to optimise our portfolio and drive earnings before interest, taxation, depreciation and amortisation (EBITDA) growth through high-yield complementary investments."

China: BBMG has sold its 49% stake in Beijing BBMG Mangrove to Jidong Cement for US$242m. Beijing BBMG Mangrove is principally engaged in the collection, storage and processing of poisonous and hazardous wastes.