Grupo Alfonso Gallardo to sell Cementos Balboa to Kohlberg Kravis Roberts

Print this page

Spain: Grupo Alfonso Gallardo has signed an agreement to sell its cement subsidiary, Cementos Balboa, and its paper subsidiaries to venture capital firm Kohlberg Kravis Roberts (KKR). Under the terms of the deal, KKR will refinance a Euro500m loan to Grupo Alfonso Gallardo, which will concentrate on its core steel production activities.

The transaction led to the completion of the restructuring project launched by Grupo Alfonso Gallardo in 2012, destined to reinforce its financial position and refinance a debt worth Euro1.5bn.

Cementos Balboa runs a 1.6Mt/yr cement plant in Alconera, Badajoz. The plant started production in 2005.

Last modified on 07 May 2014

Register for the Global Cement Weekly email newsletter

Global Cement Weekly is Global Cement’s weekly email newsletter. Keep up to date with cement industry news, analysis, diary dates and news of people in the sector.

Register >

URL: https://www.globalcement.com/news/item/2465-grupo-alfonso-gallardo-to-sell-cementos-balboa-to-kohlberg-kravis-roberts

© 2022 Pro Global Media Ltd. All rights reserved.