Business
CMA's Review of Proposed Acquisition of Hope
CMA's Review of Proposed Acquisition of Hope.
About this update from Breedon Group Plc
[{"type":"text","content":"\n \nRNS Number : 8858U Breedon Aggregates Ld 12 April 2016 \n\n \n12 April 2016\nBREEDON AGGREGATES LIMITED\n(\"Breedon\" or the \"Company\")\n \nCompetition Authority's Review of Proposed Acquisition of Hope\n \nBreedon notes the announcement today by the Competition and Markets Authority (\"CMA\") that it has completed its Phase 1 review of Breedon's proposed acquisition of Hope Construction Materials Limited (\"Hope\") and that it has concluded there is a realistic prospect of a substantial lessening of competition in a limited number of local ready-mixed concrete markets in England and Scotland. \n \nThis outcome is in line with Breedon's expectations and the Company now has a short period during which to offer remedies to address the CMA's outstanding concerns. Subject to agreement with the CMA on appropriate remedies, Breedon expects to complete the acquisition later this summer in line with previous guidance.\n \n- ends -\n \nNote to editors\n \nBreedon Aggregates is the largest independent aggregates business in the UK after the four global majors. It operates 53 quarries, 26 asphalt plants, 61 ready-mixed concrete plants and three concrete block plants in England and Scotland and employs approximately 1,200 people. The group has strong asset backing, with over 500 million tonnes of mineral reserves and resources in the UK. Breedon Aggregates' strategy is to continue growing organically and through consolidation of the UK heavyside building materials sector.\n \n \n \nEnquiries:\n \nBreedon Aggregates Limited\nPat Ward, Group Chief Executive\nRob Wood, Group Finance Director\n01332 694010\nStephen Jacobs, Head of Communications\n07831 764592\n \nCenkos Securities (NOMAD and joint broker)\nMax Hartley\n020 7397 8900\n \nPeel Hunt (joint broker)\nJustin Jones / Mike Bell\n020 7418 8900 \n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCAKBDKABKKFQD\n ","length":3900,"tagName":"div"}]