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Cemex Plans to Sell Stake of Latin American Unit in Colombia

Aug. 21 (Bloomberg) -- Cemex SAB, the largest cement maker in the Americas, said it has filed an application with Colombian authorities to sell a minority stake in its unit Cemex Latam Holdings SA.

The subsidiary will have substantially all Cemex’s assets in Central and South America, the company said today in an e-mailed statement. Cemex Latam Holdings SA will not have Mexican assets, according to the statement.

Cemex plans to carry out a public offering in Colombia and a concurrent private placement to investors outside the country, the Monterrey, Mexico-based company said in the statement. Cemex didn’t specify the stake it intends to float on the Colombian bourse and in the private sale.

Link to Company News:{CEMEXCPO MM <Equity> CN <GO>}

To contact the reporter on this story: Brendan Case in Mexico City at bcase4@bloomberg.net

To contact the editor responsible for this story: Jose Enrique Arrioja at jarrioja@bloomberg.net

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