March 22, 2018 / 11:27 PM / a year ago

Mexico's Cemex says won't pursue capital increase as proposed

MEXICO CITY, March 22 (Reuters) - Mexican cement producer Cemex said on Thursday it would not pursue a proposal for a 3.75 billion CPO capital increase after discussions with its shareholders.

Monterrey-based Cemex, which is trying to regain its investment grade credit rating, said it will cap its share issuance proposal to a maximum of 1 percent of outstanding shares.

Earlier in March, Cemex said that the U.S. Department of Justice (DOJ) was investigating its operations in Colombia and in other jurisdictions. (Reporting by Christine Murray)

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