Business
OFT Review of Scottish Acquisition
OFT Review of Scottish Acquisition.
About this update from Breedon Group Plc
[{"type":"text","content":"\n \nRNS Number : 7695O Breedon Aggregates Ld 24 September 2013 \n \n\n24 September 2013\nBREEDON AGGREGATES LIMITED\n(\"Breedon\" or the \"Company\")\n \nOFT Review of Scottish Acquisition\n \nAs previously announced by Breedon, on 30th April 2013 the Office of Fair Trading (OFT) informed the Company that it wished to review the recent acquisition of Aggregate Industries (AI) business in northern Scotland to decide whether there were competition issues which required referral to the Competition Commission (CC) for further examination. The OFT has today announced that, following its investigation, it believes that there are some competition issues which it considers require further examination by the CC. \n \nBreedon has conducted an extensive examination of the market and believes strongly that there are only minor issues in one product area which may require disposal of a limited number of individual assets. Breedon believes that its view is consistent with the findings of the CC in their recent market review and the criteria applied to the Anglo American/Lafarge merger in 2012.\n \nThe main investigation by the CC is expected to last for up to six months. Further announcements will be made as appropriate in due course.\n \nCurrent trading in the Group remains strong and in line with current market expectations, and a further update will be given in the Group's pre-close trading update on 26 November 2013.\n \nEnquiries:\n \nBreedon Aggregates Limited\n \nSimon Vivian, Group Chief Executive\n01332 694010\n \nStephen Jacobs, Head of Communications\n07831 764592\n \nCenkos Securities plc (NOMAD)\nMax Hartley \n020 7397 8900\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCNKQDQBBKDBCB\n ","length":3101,"tagName":"div"}]