Fri, 18 Feb 2011 | MERGER
British building materials businesses Tarmac and Lafarge Cement UK are to merge and form a new enterprise.
Tarmac’s mining group parent Anglo American and Lafarge SA, the French construction materials company, have made public their plans to combine the businesses, a move that will save £60 million per year.
The deal will see the combination of Lafarge Cement UK, Lafarge Aggregates and Concrete UK with Tarmac Quarry Materials. These businesses specialise in cement, ready-mixed cement, aggregates, asphalt and contracting.
The businesses due to merge had combined sales of £1.8 billion for 2010, with a combined EBITDA figure of £210 million. The combined gross assets will be worth £1.63 billion.
Together, the businesses run 280 ready-mixed concrete sites, 156 quarries, 19 depots and 60 recycling sites with a total of over 7,000 staff.
Lafarge UK and Tarmac UK are to continue to operate separately until the necessary regulatory approvals are won, it was reported.
Anglo American chief executive Cynthia Carroll said: “While Anglo American’s objective remains to divest its interests in the joint venture over time, this transaction positions us well to maximise value.”
“For Lafarge, this deal is cash neutral, is accretive to Lafarge shareholders, and illustrates our strong commitment to the UK market,” said Lafarge chairman and chief executive Bruno Lafont.
A well established premium eyewear designer and manufacturer operating throughout the UK and overseas.
A turnkey freehold hotel, restaurant and wine bar business opportunity located in Jedburgh; a pretty town in the Scottish Borders with a high concentration of attractions within small parameters
LEASEHOLD
Represent a West Midland based specialist printing services company seeking an industry savvy acquirer, or an interested newcomer.
26
|
Jul
|
Tunnelling construction technology company falls into administration | ADMINISTRATION
A tunnelling construction technology company based in Basing...
26
|
Jul
|
Sumer firm RMT completes second deal of the year | MERGER
RMT Accountants & Business Advisors, which is part of the Su...
25
|
Jul
|
Occupational health service provider secures PE backing for acquisitions | BUSINESS NEWS
A Hull-headquartered provider of occupational health service...
04
|
Mar
|
Sirius Minerals sale to go ahead despite shareholder rebellion | BUSINESS SALE
Mining concern Sirius Minerals is set to be sold for £...
09
|
Jul
|
Anglo American to sell stake in Lafarge Tarmac | BUSINESS SALE
The UK’s biggest cement maker, Lafarge Tarmac, is expe...
02
|
May
|
Tarmac and Lafarge tie up means large asset sell off | DIVISION SALE
The tie up between Anglo American’s Tarmac and French ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.