Cemex (CX) said Thursday it is divesting certain operations in Colombia through several transactions expected to generate about $555 million in total proceeds.

The company said it has agreed to sell a cement plant, a grinding mill, and a portfolio of ready-mix concrete, aggregates, mortar, and admixture plants to Holcim Group for about $485 million, with the deal expected to close by year-end pending regulatory approvals.

Cemex said it is also negotiating with other buyers to sell additional assets in the same region for about $70 million.

After the transactions, the company said it will retain two cement plants, a grinding mill in Clemencia, along with ready-mix plants and aggregates quarries to continue serving the Colombian market.