CMA's Review of Proposed Acquisition

RNS Number : 5718A

Breedon Group PLC

22 January 2020

 

   NEWS RELEASE

22 January 2020                                                                                        

BREEDON GROUP PLC

("Breedon" or the "Company")

Competition Authority's review of proposed acquisition

of assets from CEMEX UK Operations Limited ("CEMEX")

As previously disclosed in Breedon's announcement on 8 January 2020 regarding the proposed acquisition of certain assets and operations from CEMEX, Breedon will be notifying the transaction to the UK Competition and Markets Authority ("CMA") for clearance.

Breedon notes the announcement today by the CMA in relation to its review of the transaction. 

The CMA has, as expected, imposed an Initial Enforcement Order governing, among other things, the form and scope of the information that can be shared between Breedon and CEMEX prior to completion of the CMA's review, and confirms that the Company is actively working with the CMA to ensure full compliance with the Order.

Breedon continues to anticipate completion of the acquisition in the second quarter of this year.

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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 the Group will employ over 3,600 people and will have more than 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 Cenkos Securities (NOMAD and Joint Broker to Breedon) Max Hartley Harry Hargreaves Numis Securities (Joint Broker to Breedon) Ben Stoop Heraclis Economides Teneo (Public Relations Adviser to Breedon) Matt Denham Rachel Miller

01332 694010 07831 764592 020 7397 8900 020 7260 1000 020 7420 3180

 

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