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Breedon to Close Hope Deal with Sale of 14 Concrete Plants

TUESDAY, APRIL 26 TH, 2016 

Today 26th April 2016 –  Responding to an announcement from the Competition and Markets Authority (CMA) relating to its purchase of Hope Construction, which will require it to sell 14 ready-mixed concrete plants, the business has made the following comment:

“Breedon Aggregates welcomes today’s announcement from the Competition and Markets Authority that it has reasonable grounds for believing that the undertakings offered by Breedon in connection with its proposed acquisition of Hope, or a modified version of them, might be acceptable.

“In line with our previous guidance, these undertakings will require the divestment of 14 ready-mixed concrete plants currently owned by Breedon and Hope. 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 completion of the acquisition later this summer.”