Breedon welcomes 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.