Breedon Group PLC CMA's Review of Completed Acquisition (5956Y)

TIDMBREE

RNS Number : 5956Y

Breedon Group PLC

10 September 2020

NEWS RELEASE

10 September 2020

Breedon Group plc

("Breedon" or the "Company")

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.

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Information on Breedon Group

Breedon Group plc is a leading construction materials group in Great Britain and Ireland. It operates two cement plants and an extensive network of quarries, asphalt plants and ready-mixed concrete plants, together with slate production, concrete and clay products manufacturing, contract surfacing and highway maintenance operations. Following the acquisition of CEMEX's UK Assets (and subject to the remedies required by the CMA), the Group employs over 3,500 people and has around 1 billion tonnes of mineral reserves and resources. The Group's strategy is to continue growing through organic improvement and the acquisition of businesses in the heavyside construction materials market.

Enquiries:

 
 Breedon Group plc 
  Pat Ward, Group Chief Executive 
  Rob Wood, Group Finance Director 
  Stephen Jacobs, Group Head of Communications   01332 694010 
 
  Cenkos Securities (NOMAD and Joint Broker to 
  Breedon)                                        07831 764592 
  Max Hartley 
  Harry Hargreaves                                020 7397 8900 
 
  Numis Securities (Joint Broker to Breedon) 
  Ben Stoop 
  Heraclis Economides                             020 7260 1000 
 
  Teneo (Public Relations Adviser to Breedon) 
  Matt Denham 
  Rachel Miller                                   020 7420 3180 
 

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September 10, 2020 02:13 ET (06:13 GMT)