BLP advises Cementos Progreso Holdings, S.L on the acquisition of CEMEX in Costa Rica and El Salvador

January, 2022 - San Jose, Costa Rica

BLP has advised Cementos Progreso Holdings, S.L. on the $335 million acquisition of assets from Cemex, S.A.B of C.V. in Costa Rica and El Salvador.

Our international teams performed due diligence and provided local legal advice on the signing of an agreement by Cementos Progreso Holdings S.L. (“Cementos Progreso”) to acquire the Costa Rican and Salvadoran subsidiaries of the business group CEMEX, S.A.B. of C.V. (“CEMEX”).

The closing of the transaction is subject to pending approvals and other agreed-upon conditions, as stipulated by BLP in both jurisdictions.

The acquisition includes a cement plant, a cement mill, various ready-mix concrete plants, an aggregates quarry, and distribution centers in Costa Rica and El Salvador. The transaction bolsters Cementos Progreso’s expansion in Central America, consolidating operations in seven countries.

The BLP partners in charge of the transaction were Luis Castro and Adriana Castro in Costa Rica, and Zygmunt Brett and Mariana Nochez in El Salvador. Their respective teams included in Costa Rica Partner Juan Carlos Tristán, and Associates Adriana Acuña, Elia Naranjo, Yanssi Paniagua, Alexandra Aguilar, Fernando Shum, Ariel Leiva, Carlos Garcia, Francisco Obando, Gabriel Duran, Alejandro Goicuria, Carolina Arce, Luis Palacios, and León Weinstok, with paralegals Diego Quiros and Elena Foltrá; in El Salvador, Associates José Gochez, Delmer Rodriguez, Fernando Farrar, Sofia Quezada, and Claudia Melendez.