Milbank LLP is advising Cementos Progreso Holdings, S.L. in connection with its agreement, through certain of its subsidiaries, to acquire CEMEX’s operations in Costa Rica and El Salvador for approximately $335 million. The assets to be acquired include a fully integrated cement plant, a grinding station, seven ready-mix plants, an aggregate quarry, a distribution center in Costa Rica and a distribution center in El Salvador. The transaction is expected to close during the first half of 2022, subject to the satisfaction of customary closing conditions.
Cementos Progreso Holdings, S.L. is a leading regional cement and building materials company with operations in five Latin American countries. CEMEX is a global construction materials company.
The Milbank team was led by Global Corporate partners Francisco Nuñez and John Franchini, Global Project, Energy, and Infrastructure Finance partner Carolina Walther-Meade and Global Corporate associate Ross Shepard.
The team was supported by partners Nicholas Smith (Global Corporate, Washington, DC), Max Goodman (Tax, New York), Fiona Schaeffer (Antitrust, New York), associates Sonia Lopez (Global Project, Energy, and Infrastructure Finance, New York), Michael Rivkin (Tax, New York), international attorney Manuel Dominguez (Global Corporate, New York), and law clerk Fatima Bazzi (Global Corporate, New York).
