UPDATE 1-Mexico's Cemex faces another U.S. probe, shares drop

From Reuters - March 14, 2018

(New throughout, adds details from statement, background and updates stock price)

MEXICO CITY, March 14 (Reuters) - Mexicos Cemex said on Wednesday the U.S. Department of Justice (DOJ) had asked it for information on its operations in Colombia and in other jurisdictions for a probe of the company, and its shares slid more than 2.3 percent in early trading.

Cemex said it had received information requirements from the DOJ. In December, the company said the U.S. Securities Exchange Commission (SEC) asked it for information to determine whether it violated the Foreign Corrupt Practices Act in the construction of a new plant in Colombia.

The company said it would cooperate with both the DOJ and the SEC investigations.

In the statement, Cemex mentioned events in 2016 when the company dismissed two senior executives in its Latin America business because of $20 million of improper payments to a non-governmental third party.


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