Business
CMA Clears Acquisition of Hope
CMA Clears Acquisition of Hope.
About this update from Breedon Group Plc
[{"type":"text","content":"\n \nRNS Number : 3516F Breedon Aggregates Ld 27 July 2016 \n\n \n27 July 2016\n \nBREEDON AGGREGATES LIMITED\n(\"Breedon\" or the \"Company\")\n \nCompetition and Markets Authority's Clearance of Acquisition of \nHope Construction Materials Limited (\"Hope\")\nBreedon 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.\nCommenting 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.\n \n\"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.\"\n- ends -\n \n \n \nThe information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulations (EU) No. 596/2014.\n \n \nEnquiries:\n \n\n\n\n\nBreedon Aggregates Limited\n\n\nTel: 01332 694010\n\n\n\n\nPat Ward, Group Chief Executive\nRob Wood, Group Finance Director\n\n\n \n \n\n\n\n\nStephen Jacobs, Head of Communications\n\n\nTel: 07831 764592\n\n\n\n\n\n\n\n\n\n\n\n\nCenkos Securities plc (Nomad and joint broker)\nMax Hartley\n \n\n\nTel: 020 7397 8900\n \n\n\n\n\nPeel Hunt LLP (Joint broker)\n\n\nTel: 020 7418 8900\n\n\n\n\nJustin Jones/ Mike Bell\n \n\n\n\n\n\n\n\n \nNote to editors\n \nWith 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, a...