Mexico’s Elementia closes on Dragon, Keystone parent
- Published: Monday, 05 December 2016 10:03
- Written by Concrete News
Sources: Elementia S.A.B. de C.V., Mexico City; CP staff
The Elementia board of directors approved a multi-step transaction with Spain’s Cementos Portland Valderrivas S.A., yielding a U.S. cement market stake through Giant Cement Holding Inc. The deal saw a) Elementia pay $220 million for a 55 percent stake and full control of the business; b) Elementia grant Giant Cement a $305 million loan through committed credit lines; and, c) Giant Cement utilize the $525 million infusion to retire 100 percent of its debt.