Closing of the disposal of cement assets by Kosmos Cement Company
During the night Buzzi Unicem has been informed that Kosmos Cement Company, a Kentucky partnership, in which a subsidiary of ours holds a 25% partnership interest, has completed its transaction with Eagle Materials Inc. according to an agreement signed on 26 November 2019 and disclosed to the market on the same date.
In particular Kosmos Cement Company has sold substantially all of its assets to Eagle Materials Inc. for approximately 665 million dollars. The assets being divested consist of the cement plant in Louisville (KY) as well as related assets, which include seven distribution terminals and raw material reserves. The net proceeds obtained from this transaction will be distributed to the partners, according to their respective partnership interests.
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