Tillicoultry Quarries to acquire Breedon assets

摘要

BREEDON have agreed the disposal of certain assets to Tillicoultry Quarries Ltd for £12.2 million on a cash and debt-free basis. The 14 sites to be divested comprise 10 ready-mixed concrete plants in Hartlepool, Stockton, Middlesbrough, Whisby, King's Lynn, Wisbech, Peterborough, Kidderminster, Costessey and Snetterton; an asphalt plant and aggregates depot in Ely; two sand and gravel quarries in Collessie and Loanleven; and a cement terminal in Dundee. The divestment by Breedon is at the direction of the Competition and Markets Authority (CMA) in order to address its concerns that the company's purchase of certain assets from CEMEX UK would give rise to a realistic prospect of a substantial lessening of competition in certain areas. Completion of the disposal is subject to final confirmation by the CMA, following a public consultation, that it will accept the undertakings offered by Breedon in lieu of a Phase 2 reference and the approval of Tillicoultry Quarries as a purchaser for the assets.