Breedon Group PLC CMA's Review of Proposed Acquisition (1921X)

TIDMBREE

RNS Number : 1921X

Breedon Group PLC

26 August 2020

NEWS RELEASE

26 August 2020

BREEDON GROUP PLC

("Breedon" or the "Company")

Competition Authority's review of proposed acquisition

of assets from CEMEX UK Operations Limited ("CEMEX")

Breedon notes the announcement today by the Competition and Markets Authority ("CMA") in relation to its Phase 1 review of Breedon's acquisition of certain assets and operations from CEMEX, which was completed on 31 July 2020.

The outcome is broadly 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. These are expected to take several months to implement, during which time the former CEMEX assets will continue to be held separate from Breedon and operated as Pinnacle Construction Materials.

The Company will make further announcements in due course.

- ends -

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 (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 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

ACQSEESMMESSEFA

(END) Dow Jones Newswires

August 26, 2020 02:14 ET (06:14 GMT)