Cemex (NYSE:CX) announced a major restructuring of its South American footprint on Thursday, confirming agreements to divest several Colombian assets for a combined total of approximately $555 million.
The move represents a valuation of roughly 10x 2025 EBITDA, signaling a robust exit multiple for the Mexican cement giant.
The centerpiece of the divestment is an agreement with Holcim Group, which has agreed to acquire a cement plant (Caracolito), a grinding mill (Santa Rosa), and a diverse portfolio of ready-mix concrete, aggregates, mortar, and admixture plants for $485 million.
The Holcim transaction is expected to close by the end of 2026, pending customary regulatory approvals.
Beyond the Holcim deal, Cemex revealed it is in active negotiations with third parties to sell remaining assets in the same geographic region.
These additional transactions are expected to generate approximately $70 million in proceeds.
“We are pleased with the continued progress we are making in further streamlining our portfolio,” said Jaime Muguiro, CEO of Cemex.
He noted that the company’s portfolio rebalancing effort, which began in 2018, is nearing its conclusion as the firm shifts its investment focus toward higher-growth positions in the United States, Europe, and Mexico.
Despite the scale of the sale, Cemex is not exiting the Colombian market entirely.
The company will retain two cement plants—Maceo and Cúcuta—with a combined annual capacity of 1.6 million tons, along with the Clemencia grinding mill and several quarries.
These remaining assets are intended to maintain Cemex's competitive presence in the local market while significantly reducing its capital intensity in the region.