Mexico's Cemex sells $230 million in UK assets to Breedon Group

MEXICO CITY, Aug 3 (Reuters) - Mexican cement producer Cemex SAB de CV CMXCPO.MX said on Monday that it closed the sale of assets in the United Kingdom to Breedon Group BREE.L for $230 million, including some $30 million of debt.

Proceeds from the divestment will be used for debt reduction and general corporate purposes, Cemex said in a statement, without providing details on what assets were divested.

"With the closing of this transaction, CEMEX has met its stated asset sales target of between $1.5 billion and $2.0 billion," under a plan that runs from June 2018 until the end of 2020, it said.

CEMEX said it remains committed to the United Kingdom and maintains a significant footprint in "key geographies".

Monterrey-based Cemex, which operates in more than 50 countries, said this year it was delaying capital expenditure and cutting a percentage of employees' salaries or allowances for a period of three months to cut costs amid the coronavirus crisis.

(Reporting by Anthony Esposito; editing by Jason Neely)

((anthony.esposito@tr.com; +5255 5282 7140;))

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