Safe, for now…
Cemex seals deal
Published: 12 August, 2009
EGHAM: Cemex, one of the world's largest building materials suppliers, has secured its future with support from its bank creditors, to refinance about £9bn of company debt.
Following the announcement, shares in Cemex leaped to a two-month high.
Reaching a deal is vital for Cemex, which has been hit doubly hard in the past few years due to the collapse of the US housing market.
Most analysts believe the absence of a deal would have left the company with nowhere to go.