Breedon Aggregates Ld CMA Clears Acquisition of Hope (3516F)
July 27 2016 - 2:10AM
UK Regulatory
TIDMBREE
RNS Number : 3516F
Breedon Aggregates Ld
27 July 2016
27 July 2016
BREEDON AGGREGATES LIMITED
("Breedon" or the "Company")
Competition and Markets Authority's Clearance of Acquisition
of
Hope Construction Materials Limited ("Hope")
Breedon notes the announcement today by the Competition and
Markets Authority that it has accepted Breedon's undertakings in
lieu of a reference to a Phase 2 investigation in respect of its
proposed acquisition of Hope (the "Acquisition"), and that Breedon
has accordingly been cleared to complete the Acquisition, subject
to those undertakings. As indicated in Breedon's announcement on 21
July 2016, it now expects to complete the acquisition of Hope on 1
August 2016.
Commenting on the announcement Breedon's Chairman, Peter Tom
CBE, said: "The way is now clear for Hope to join us and create the
UK's largest independent construction materials group. It will give
us a stronger platform for growth, with a broader geographical
footprint, increased scale, an improved product mix, greater
financial capacity and a team of highly talented people.
"We have built our reputation on our service, delivered locally,
promptly and to the highest quality standards. We look forward to
working with our new colleagues to deliver an even better and more
comprehensive service to our customers in the years ahead."
- ends -
The information contained within this announcement is deemed by
the Company to constitute inside information under the Market Abuse
Regulations (EU) No. 596/2014.
Enquiries:
Breedon Aggregates Limited Tel: 01332 694010
Pat Ward, Group Chief Executive
Rob Wood, Group Finance Director
Stephen Jacobs, Head of Communications Tel: 07831 764592
Cenkos Securities plc (Nomad and Tel: 020 7397
joint broker) 8900
Max Hartley
Peel Hunt LLP (Joint broker) Tel: 020 7418
8900
Justin Jones/ Mike Bell
Note to editors
With the acquisition of Hope, Breedon Group plc (as the company
will be named from 1 August) will become the UK's largest
independent construction materials group, with the country's
largest cement plant, around 60 quarries, nearly 30 asphalt plants,
approaching 200 ready-mixed concrete plants, some 2,100 employees
and approximately 750 million tonnes of mineral reserves and
resources. The enlarged group's strategy will be to continue
growing organically and through consolidation of the UK heavyside
building materials sector.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCPGUQUMUPQUQM
(END) Dow Jones Newswires
July 27, 2016 02:10 ET (06:10 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