Lafarge ready to sell quarries to get bid OK
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Lafarge, the French building giant, is preparing to sell its ready-mix concrete quarries in Norwich and Leicester in order to get its pounds 1.8bn bid for Redland past the UK competition authorities. The move should remove the final obstacle to the takeover.
Earlier this month the European Commission passed the deal back to the UK competition authorities following a surprise request to scrutinise the bid from John Battle, the Industry Minister, following a recommendation from the director general of fair trading.
Mr Battle raised concerns that the deal would give Lafarge a stranglehold over the ready-mix concrete market in the Midlands. The French group already has a large presence in the area, having acquired Ennemix, a local quarry group, last year in its first move into the UK market.
Sources believe that Lafarge has offered to sell the businesses in order to get the green light for its takeover.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments