UNACEM Corp S.A.A. entered into a definitive agreement to acquire Certain West Coast Cement Operations from Martin Marietta Materials, Inc. for approximately $320 million.

UNACEM Corp S.A.A. (BVL:UNACEMC1) entered into a definitive agreement to acquire Certain West Coast Cement Operations from Martin Marietta Materials, Inc. (NYSE:MLM) for approximately $320 million on August 24, 2023. Skadden represented BBVA as sole lead arranger and the syndicate of lenders in a $345 million loan to UNACEM to finance the acquisition. The transaction is subject to regulatory approvals and other customary closing conditions.

The transaction is expected to close in the second half of 2023. George F. Schoen, Christopher K. Fargo, Matthew J. Bobby, Matthew Morreale and Benjamin G. Joseloff of Cravath, Swaine & Moore LLP acted as legal advisor and Evercore Inc. (NYSE:EVR) acted as financial advisor to Martin Marietta. Wells Parker of Dorsey & Whitney LLP acted as legal advisor to UNACEM Corp.