Noerr advises Mexican building materials group CEMEX on the acquisition of a stake in East German ProStein Group

Under the leadership of our Hamburg partner Christoph Spiering, our law firm has advised CEMEX Group on the acquisition of a strategic majority stake in ProSteinGroup. ProStein focuses on extracting, processing and recycling raw materials for the construction industry. By way of the present transaction, CEMEX Germany acquires 53 percent of the shares in such building materials producer based in Bischofswerda, Saxony.

With a turnover of around 14.5 billion US Dollars, the Mexican building materials group CEMEX is one of the largest cement manufacturers in the world. The company is active in the cement, ready-mixed concrete and mineral raw materials business lines, among others.

ProStein Group includes ProStein GmbH & Co. KG, Steinbruch Oberottendorf GmbH and VMB Vertriebsgesellschaft mineralische Baustoffe mbH with a total of six hard stone plants. The annual sales volume of ProStein Group amounts to three million tons of mineral raw materials. As a result of the present transaction, and hence taking the acquired capacities into account, CEMEX Germany's sales in this product line will double.

Necessary regulatory approvals, in particular the clearance by the German Federal Cartel Office, have already been obtained. The transaction was completed on 5 July 2022. Noerr has already advised CEMEX on several occasions on transactions in the European market, most recently on the sale of the Baltic and Nordic activities to the SCHWENK Group and on the sale of the mineral raw materials and ready-mixed concrete business units in northern and north-western Germany to the Papenburg Group.

Advisors to CEMEX Deutschland: Noerr Partnerschaftsgesellschaft mbB

Lead: Christoph Spiering (partner, Mergers & Acquisitions, Hamburg)

Corporate/M&A
Vanessa Wüsthoff (senior associate), Bettina Raschke (associate, both Mergers & Acquisitions, both Hamburg)

Antitrust
Kathrin Westermann (partner, Antitrust), Lukas Gasser (associate, Antitrust, both Berlin)

Tax
Ulrike Sommer (associated partner, Tax, Dusseldorf), Nico Rosenfelder (associate, Tax, Munich)