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Cemex Plans to Sell Stake of Latin American Unit in Colombia

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.

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