Cementos Progreso Holdings consolidates international expansion and leadership in Central America

Cuatrecasas has advised Cementos Progreso Holdings S.L. and other members of an investment consortium on (i) the tax and corporate structure of the investment in Cemex Dominicana S.A. and Transportes San Pedro S.R.L.—through Cemento Dominicana, S.L. —; and  (ii) preparing the shareholders agreement and the financing granted by Banco Popular Dominicano, Banco General, Banco Industrial and Citibank.

This investment helps Cementos Progreso Holdings S.L., a company specializing in the cement industry and in construction materials and solutions, to consolidate its international expansion and its position as a leader and reference in the cement industry in Central America and the Caribbean. With this transaction, the company ends it international expansion process on which Cuatrecasas has been advising since 2018. It is the transaction with the highest value recorded in the region in recent years: USD 950 million, generating an essential strategic value for Cementos Progreso Holdings S.L. and for the economy of the Dominican Republic.

The Cuatrecasas team handling the advisory service was made up of lawyers Juan Aguayo, Álvaro Vierna and Paula Martínez (Corporate); Antonio Barba (Tax); and León López (Finance). Juan Aguayo stated the following: “We enjoy working with Cementos Progreso Holdings S.L., an ambitious, committed and sophisticated team. We have been accompanying Progreso on this project since the start of 2024 and, despite the presence of circumstances that are atypical in a crossborder M&A transaction, we managed to help our client to achieve its desired transaction structure: an investment of major importance in the Dominican Republic with structure and governance designed by Cuatrecasas in Spain.”