BRIEF-Eagle Materials announces deal to acquire Cemex's Fairborn cement plant

lunes 12 de septiembre de 2016 06:45 GYT
 

Sept 12 (Reuters) - Eagle Materials Inc :

* Eagle Materials Inc. announces a definitive agreement to acquire Cemex's Fairborn cement plant and related assets

* Purchase price is $400 million

* Says following close and financing of transaction, Eagle is expected to have a net debt to EBITDA ratio of no more than 2.0x

* Anticipates certain tax benefits arising from transaction, net present value of which is expected to be about $50 million

* Deal will increase Eagle's US cement capacity by roughly 20% and is expected to be accretive to earnings immediately post-closing

* Eagle intends to finance acquisition through a combination of cash on hand and borrowings under its existing bank credit facility

* Calendar 2016 revenue and EBITDA for acquired assets is estimated to be $79 million and $33 million, respectively

* Goldman, Sachs & Co. is acting as exclusive financial advisor to Eagle Materials Inc. on this transaction Source text for Eikon: Further company coverage: