Construction materials firm moves closer to £178m deal after offloading 14 sites

Breedon, the Leicestershire-based building aggregates firm, has offloaded £12.2m in assets to Tillicoultry Quarries in an effort to bring forward its £178m deal to buy 100 CEMEX sites.

The CEMEX deal hit the buffers in August at the Competition and Markets Authority raised “serious competition concerns”.

However, Breedon now hopes the deal to sell the 14 sites, including 10 ready-mixed concrete plants and an asphalt plant and associated aggregates depot in England, and two quarries and a cement terminal in Scotland, will be enough for the CMA to wave the CEMEX deal through.

Pat Ward, Breedon’s group chief executive, said: “We are very pleased with the outcome of this process and believe it is in the interests all stakeholders.

“It allows Breedon to realise fair value for the assets disposed of which, together with the people employed in them, will be in good hands under new ownership of Tillicoultry Quarries.”