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Cemex shares boosted by Central America sale

Thursday, August 23, 2012


Cemex shares climbed Wednesday, outperforming the broader Mexican stock market after the cement maker unveiled plans to sell a minority stake in Central and South American assets.

Cemex shares rose 4.2 percent, and had been up by more than 7 percent after the world’s third-largest cement maker said in a regulatory filing late Tuesday that its Latam Holdings unit is seeking to sell a minority stake in its Latin American assets through a listing on Colombia’s stock exchange.

Cemex’s US-listed shares closed up 3.8 percent at $8.15, posting their strongest performance in a month.

Source: MarketWatch