CEMEX to sell its Austrian and Hungarian operations to Strabag 
(04/08/2008)
CEMEX, S.A.B. de C.V. has announced that it has reached an agreement to sell its Austrian and Hungarian operations to Strabag SE, one of Europe’s leading construction and building materials groups, for €310 million Euros (approximately US$485 million dollars).
Closing of the transaction is subject to approval from regulatory authorities and Strabag's supervisory board.
Proceeds from the sale will be used to reduce debt.
Morgan Stanley acted as financial advisor to CEMEX in this transaction.
Related categories: Construction companies
