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UPDATE 1-Cemex sells Guatemala assets to Holcim for $200 million

Reuters · 09/10 20:40

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UPDATE 1-Cemex sells Guatemala assets to Holcim for $200 million

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MEXICO CITY, Sept 10 (Reuters) - Mexican cement maker Cemex said on Tuesday that it had sold its operations in Guatemala to Holcim Group for around $200 million, its latest divesture from an emerging market.

The sale, signed and closed on Tuesday, includes one grinding mill, three ready-mix plants and five distribution centers, Cemex said in a statement.

Cemex has moved to exit from several other countries in recent months, including the Dominican Republic and the Philippines.

"We are primed for the stage by redeploying most of the divestment proceeds in developed markets, primarily the (United States)," CEO Fernando Gonzalez said in the statement.

Cemex's largest markets are Mexico and the United States.

(Reporting by Kylie Madry; Editing by Aida Pelaez-Fernandez)

((Aida.Pelaez-Fernandez@thomsonreuters.com;))

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