CRH CRH Plc

   By Ian Walker 
 

The U.K. Competition and Markets Authority said Thursday that Tarmac Trading Ltd.'s efforts to satisfy competitons concerns may be accepted, and it now has until July 9 to make a final decision.

The CMA said on April 26 it had identified competition issues over Tarmac Trading's plan to buy concrete plants from Breedon Group PLC (BREE.LN), and was seeking remedies from the companies to address its concerns.

Breedon Group announced last December that it had agreed to buy four quarries and an asphalt plant from CRH PLC (CRH) subsidiary Tarmac for 16.5 million pounds ($22.4 million).

Payment for the assets would comprise 27 of Breedon's ready-mixed concrete plants and GBP4.9 million in cash, Breedon said.

The regulator said Thursday that Tarmac Trading has offered not to buy Breedon's ready-mix concrete plants in each of the local areas in which competition concerns were identified.

"The CMA has considered the undertakings offered and today announced that it considers that there are reasonable grounds for believing that the undertaking offered, or a modified version of it, might be accepted by the CMA to remedy the substantial lessening of competition identified by the CMA," the regulator said.

Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

(END) Dow Jones Newswires

May 10, 2018 03:23 ET (07:23 GMT)

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