Originally published Thursday, December 25, 2008 at 8:40 AM
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Report: Cemex to unload shares in Trinidad firm
Mexico's Cemex SAB is reportedly preparing to unload its 20 percent share in Trinidad Cement Limited, the largest individual stake in the company.
Mexico's Cemex SAB is reportedly preparing to unload its 20 percent share in Trinidad Cement Limited, the largest individual stake in the company.
The Trinidad Guardian says TCL's board has issued an alert to investors saying Cemex is selling off its nearly 50 million shares due to weakening demand and tightening credit markets.
The paper reported Thursday that TCL said the pending sale will not affect operations and the board will try to ensure that it will not lower shareholder value.
It said the alert was issued Wednesday.
Cemex, based in Monterrey, Mexico, is the world's third largest cement maker. Representatives of the companies did not immediately return calls seeking comment.
Copyright © 2008 The Seattle Times Company
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