Cemex to divest assets in the Baltics and Nordics.

Mexico’s Cemex, one of the world’s largest cement producers, agreed to the sale of assets in the Baltics and Nordics to the German building materials group SCHWENK, for approximately €340m ($385m). Monterrey-based Cemex will use the money from the deal to reduce its debt. The firm has aggressively seeking to slash debt and regain its investment-grade rating. Consolidated operating EBITDA generated by the divested assets was approximately €27m ($31m) in 2018.