Construction materials firm Breedon to bolster UK presence with CEMEX deal [Reuters]
Cemex, S.A.B. de C.V. Sponsored ADR (CX)
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Source: Reuters
Construction materials firm Breedon to bolster UK presence with CEMEX deal (Reuters) - British construction materials firm Breedon Group Plc ( BREE.L ) said on Wednesday it would buy certain UK assets from Mexico’s CEMEX SAB de CV ( CEMEXCPO.MX ) for 178 million pounds ($233.79 million), as it looks to be a bigger player in Britain and Ireland. Breedon said the deal will add to its underlying earnings per share in the first full year after the competition of the acquisition in the second quarter of 2020. The UK assets of CEMEX, a global building material company, includes about 100 operations across Scotland, Wales, North-East England, Norfolk, the East Midlands and Yorkshire. These assets generated earnings before interest, tax, depreciation and amortization of 23 million pounds in 2018. The acquisition will be funded by an existing 350 million pounds revolving credit facility, Breedon said. It will boost the company’s mineral reserves and resources by about 170 million tonnes and
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- CEMEX, S.A.B. de C.V. (NYSE: CX) was downgraded by analysts at Bank of America Co. from a "buy" rating to a "neutral" rating. They now have a $9.00 price target on the stock.MarketBeat
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CX
Sec Filings
- 4/15/24 - Form 6-K
- 4/11/24 - Form 6-K
- 4/8/24 - Form 144
- CX's page on the SEC website