Breedon Group PLC CMA's Review of Completed Acquisition (5956Y)
September 10 2020 - 1:13AM
UK Regulatory
TIDMBREE
RNS Number : 5956Y
Breedon Group PLC
10 September 2020
NEWS RELEASE
10 September 2020
Breedon Group plc
("Breedon" or the "Company")
Competition Authority's review of completed acquisition
of assets from CEMEX UK Operations Limited ("CEMEX")
Breedon welcomes today's announcement from the Competition and
Markets Authority ("CMA") that it has reasonable grounds for
believing that the undertakings offered by Breedon in connection
with its completed acquisition of certain assets and operations
from CEMEX , or a modified version of them, might be
acceptable.
These undertakings will require the divestment of a small number
of ready-mixed concrete plants and an asphalt plant in England, and
two quarries and a cement terminal in Scotland.
The Company fully expects to be able to finalise the required
undertakings to the CMA's satisfaction and complete the required
divestments in the near future, paving the way for the integration
of the remaining former CEMEX assets into the Group later this
year. Until that time they will continue to be held separate from
Breedon and operated as Pinnacle Construction Materials.
The Company will make further announcements in due course.
- ends -
Information on Breedon Group
Breedon Group plc is a leading construction materials group in
Great Britain and Ireland. It operates two cement plants and an
extensive network of quarries, asphalt plants and ready-mixed
concrete plants, together with slate production, concrete and clay
products manufacturing, contract surfacing and highway maintenance
operations. Following the acquisition of CEMEX's UK Assets (and
subject to the remedies required by the CMA), the Group employs
over 3,500 people and has around 1 billion tonnes of mineral
reserves and resources. The Group's strategy is to continue growing
through organic improvement and the acquisition of businesses in
the heavyside construction materials market.
Enquiries:
Breedon Group plc
Pat Ward, Group Chief Executive
Rob Wood, Group Finance Director
Stephen Jacobs, Group Head of Communications 01332 694010
Cenkos Securities (NOMAD and Joint Broker to
Breedon) 07831 764592
Max Hartley
Harry Hargreaves 020 7397 8900
Numis Securities (Joint Broker to Breedon)
Ben Stoop
Heraclis Economides 020 7260 1000
Teneo (Public Relations Adviser to Breedon)
Matt Denham
Rachel Miller 020 7420 3180
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
ACQFIFIRAAIILII
(END) Dow Jones Newswires
September 10, 2020 02:13 ET (06:13 GMT)
Breedon (LSE:BREE)
Historical Stock Chart
From Apr 2024 to May 2024
Breedon (LSE:BREE)
Historical Stock Chart
From May 2023 to May 2024