ompetition 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.