Cementos Progreso acquires Cemex’s cement business in El Salvador and Costa Rica

Cuatrecasas has advised Cementos Progreso Holdings, S.L. and other companies in its group on buying Cemex’s cement business in El Salvador and Costa Rica, by acquiring shares in Cemex El Salvador, S.A. de C.V. and Cemex (Costa Rica), S.A. and granting guarantees.

This acquisition consists of a cement plant, a cement grinding plant, seven ready-mix concrete plants, an aggregate quarry, one cement distribution terminal in Costa Rica and another in El Salvador. This enables Cementos Progreso Holdings to consolidate its regional market leadership.

The transaction is valued at USD 335 million and is expected to be completed in the first half of 2022, subject to approvals and other conditions.

The Cuatrecasas multidisciplinary team advising on the transaction was led by lawyers Juan Aguayo, León López and Natalia Tallada (Corporate and M&A); and Antonio Barba (Tax).