HeidelbergCement is reportedly working with Morgan Stanley to divest businesses in the U.S., including operations in California.
Bloomberg first reported this development, noting that the divestment would help HeidelbergCement focus on the East Coast, Midwest and Canada. The California assets include aggregate operations and cement plants, with sources telling Bloomberg that “the unit could fetch around $1.5 billion.”
Among the potential buyers HeidelbergCement reportedly reached out to are Cemex, CRH, LafargeHolcim, Martin Marietta and Summit Materials. Cement producers in China and Latin America were also targeted, according to Bloomberg.
