New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 1, 2014
13:41 EDTCXCEMEX announces conversions of approximately $280M of its convertible notes
CEMEX announced that certain institutional holders of CEMEX’s 4.875% Convertible Subordinated Notes due 2015 are expected to convert approximately $280M aggregate principal amount of the Notes in exchange for an estimated 27.6M American Depositary Shares. CEMEX is not paying any cash to these holders in connection with these conversions. Following the closing of these transactions, approximately $435M aggregate principal amount of the Notes will remain outstanding. The Notes are not callable prior to maturity in March 2015. Fernando A. González, Executive Vice President of Finance and Administration, and CFO of CEMEX, said: “This transaction contributes to the strengthening of our capital structure. It supports our stated objectives of reducing debt and interest costs and reduces our short term contingent refinancing requirements.”
News For CX From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 30, 2014
06:18 EDTCXHolcim, Cemex to no longer form joint organization in Spain
Holcim (HCMLY) and Cemex (CX) announce that they have agreed on adapted parameters to their series of transactions in Europe. In Germany and the Czech Republic, the scope of the transaction remains unchanged, meaning that Holcim will acquire Cemex’s operations in Western Germany while Cemex will take over Holcim’s business in the Czech Republic, as previously announced. In Spain the two companies will no longer form a joint organization as initially planned and communicated. Instead, Cemex will purchase Holcim’s Gador cement plant and Yeles grinding station, with a total of 1.75M tonnes of cement capacity, while Holcim will keep its remaining operations in Spain, representing 2.2M tonnes of cement capacity, as well as its aggregates and ready-mix positions. In Germany, Holcim will continue the acquisitions of operations in the western part of the country. The transaction includes one cement plant, two grinding stations, one slag granulator, 22 aggregates locations and 79 ready-mix plants. They will be combined with Holcim’s existing Northern German operations. Due to the changed transaction, Cemex will pay Holcim EUR 45M in cash. As a result of these changes, Holcim expects sustainable additional operating EBITDA of at least EUR 10M on a yearly basis after the closing of the deal. This change of parameters reflects the change in the strategic landscape following the announcement of the proposed merger of Holcim with Lafarge. Hence Holcim and Cemex will remain competitors in Spain and Czech Republic. In Germany, Holcim aims to optimize its portfolio by better connecting its operations in Northern Germany and the wider region. These transactions are expected to close during 1Q15.
05:48 EDTCXCEMEX, Holcim agree on transactions in Europe
Subscribe for More Information
October 23, 2014
07:34 EDTCXCEMEX reports Q3 consolidated sales $4.1B, consensus $4.27B.
During Q3, controlling interest net income was a loss of $106M.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use