Mexico’s Cemex prices $1.3 billion share offer
Mexico’s Cemex, the world’s No. 3 cement maker, said late on Tuesday it priced a $1.3 billion offer of American Depositary Receipts at $49.50 per receipt.
Part of the offer was placed in local shares, 10 of which make up one American Depositary Receipt, or ADR. The equivalent offer price in local shares was 53.89 pesos per share.
Cemex’s ADRs (CX.N: Quote, Profile, Research) closed on Tuesday at $50.14 while its Mexico-traded stock (CEMEXCPO.MX: Quote, Profile, Research) finished at 54.44 pesos.
Source: today.reuters.com
Mexico's Cemex sees Q4 EBITDA up 63 pct
Mexico's Cemex, the world's third biggest cement maker, expects a 63 percent rise in fourth-quarter earnings before interest, tax, depreciation and amortization to $950 million after a major acquisition boosted sales, the company said on Friday.
Cemex (CX.N: Quote, Profile, Research) (CEMEXCPO.MX: Quote, Profile, Research) said revenues would be above $3.9 billion in the October-December period, up 95 percent following the $5.8 billion purchase of Britain's RMC Group, the world's largest ready-mix concrete producer.
The acquisition of RMC, the biggest ever by a Mexican company, doubled Cemex's revenue base and handed it new markets in
UPDATE 3-Mexico's Cemex net profit almost doubles on RMC buy
Mexico's Cemex (CX.N: Quote, Profile, Research), the world's No. 3 cement maker, almost doubled its net profit in the third quarter from higher sales after the consolidation of its acquisition of Britain's ready-mix concrete giant RMC.
Cemex (CEMEXCPO.MX: Quote, Profile, Research) said on Friday its July-September net profit was $675 million, lower than market forecasts, but up from $361 million a year earlier.
A Reuters' survey of six analysts had yielded an average forecast that net profit for Cemex, which operates in more than 50 countries, would come in at $783
UPDATE 3-Mexico's Cemex net profit almost doubles on RMC buy
Mexico's Cemex (CX.N: Quote, Profile, Research), the world's No. 3 cement maker, almost doubled its net profit in the third quarter from higher sales after the consolidation of its acquisition of Britain's ready-mix concrete giant RMC.
Cemex (CEMEXCPO.MX: Quote, Profile, Research) said on Friday its July-September net profit was $675 million, lower than market forecasts, but up from $361 million a year earlier.
A Reuters' survey of six analysts had yielded an average forecast that net profit for Cemex, which operates in more than 50 countries, would come in at $783
RMC acquisition to boost profit for Mexico's Cemex
Mexico's Cemex, the
world's No. 3 cement maker, is expected to almost triple its
second-quarter net profit from the takeover of Britain's ready-
mix concrete producer RMC and from foreign exchange gains.
A Reuters survey of six analysts forecast, on average, that
Cemex (CX.N: Quote, Profile, Research) (CEMEXCPO.MX: Quote, Profile, Research) would report a net profit of $634
million for the April-to-June period, up from $247 million in
the same period a year earlier.
In March Cemex bought RMC, the world's largest ready-mix
concrete maker, for $5.8 billion, which strengthened its
business base in Europe and doubled sales.
"Above and beyond
RMC buy to double Mexico's Cemex net profit
Mexico's Cemex, the world's No. 3 cement maker, is seen doubling its third-quarter net profit from higher sales in the consolidation of Britain's ready-mix concrete giant RMC and financial gains.
A Reuters survey of six analysts forecast, on average, a July-September net profit for Cemex of $783 million, up 117 percent from a year earlier.
The survey forecast that Cemex's (CX.N: Quote, Profile, Research) (CEMEXCPO.MX: Quote, Profile, Research)
revenues will jump 114 percent in the quarter, largely boosted by income from its $5.8 billion acquisition of RMC, the world's largest ready-mix concrete maker.
Financial gains from
Mexicos Carso seeks to delist Sanborns retail unit
Mexican conglomerate Grupo Carso said on Monday it would ask shareholders to make an offer to buy up to 100 percent of outstanding shares in retail unit Grupo Sanborns and delist the company from Mexicos stock market.
Carso (GCARSOA1.MX: Quote, Profile, Research), an industrial and retail conglomerate that belongs to the business empire of Latin Americas richest man, Carlos Slim, said it would offer to pay 26 pesos per share it does not currently own in Sanborns (GSANBORB1.MX: Quote, Profile, Research), for an estimated total cost of 4.1 billion pesos ($376 million).
Source : today.reuters.com
Mexico's Bolsa Rises, Led by America Movil, Cemex: Latin Stocks
Mexico's benchmark stock index rose to a record on the prospect of government spending on construction that will spur profits at companies such as cement maker Cemex SA.
The Bolsa index rose 150.54, or 1.1 percent, to 14,123.15 as of 1:50 p.m. New York time, surpassing the previous high July 14. America Movil SA, Latin America's No. 1 mobile-phone company, led the gain followed by Cemex, the world's third-largest cement maker. Elsewhere in the region, Chile's IPSA index of 40 stocks rose 1 percent to 2124.10, headed for a third
Merrill Lynch opens Grupo Mexico cover with "buy"
Merrill Lynch began coverage of Mexican copper giant Grupo Mexico with a "buy" rating on Tuesday, pointing to strong prices, a debt restructuring and improvements in returning cash to shareholders.
Merrill Lynch set its 12-month price target for Grupo Mexico at 26 pesos per share. They were trading on Tuesday morning at 18.57 pesos, up 1.31 percent in the session.
Grupo Mexico has leveraged record metals prices to tidy up its finances, reducing net debt from $2.5 billion in December 2004 to $1.4 at the end of June.
Grupo Mexico is the world's No. 3 copper
UPDATE 2-Mexico's Cemex sees EBITDA up 50 pct after RMC buy
Mexico's Cemex, the world's No. 3 cement maker, said on Monday it saw third-quarter earnings before interest, depreciation and amortization
(EBITDA) close to $1 billion, up 50 percent from a year earlier on higher sales.
Cemex (CX.N: Quote, Profile, Research) (CEMEXCPO.MX: Quote, Profile, Research) said revenues would reach $4.4 billion in the July-September period, up 115 percent and largely boosted by income from the $5.8 billion acquisition of Britain's RMC Group, the world's largest ready-mix concrete maker.
Cemex did not mention any impact of the expected massive reconstruction program in
Mexico Exports Rise 16% in June to $21.2 Bln on Autos (Correct)
Mexicos exports surged for a second month in June as sales of automobiles helped regain U.S. market share lost to China.
Exports climbed to $21.2 billion from $18.3 billion a year earlier, after reaching a record $22.71 billion in May, according to a Finance Ministry report. Mexico posted a trade deficit of $417 million in June, the report said. Imports rose 17.9 percent from a year earlier to $21.7 billion.
Source : bloomberg.com
