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Mexican cement firm buys world’s biggest supplier

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by Daily Commercial News last update:Jul 15, 2008

Mexican cement giant Cemex SA is buying Britishbased RMC Group PLC, the world’s biggest supplier of ready mixed concrete, in a deal worth some $4.15 billion (all funds U.S.).

LONDON

Mexican cement giant Cemex SA is buying Britishbased RMC Group PLC, the world’s biggest supplier of ready mixed concrete, in a deal worth some $4.15 billion (all funds U.S.).

The deal entitles RMC shareholders to receive $15.44 a share in cash, investment bank Goldman Sachs International said in a statement.

RMC directors have agreed to the acquisition, which is subject to approval by shareholders and regulators, Goldman Sachs said.

“Becoming part of a powerful new group within the global heavy building materials industry will offer great scope and opportunities for our staff,” RMC chief executive David Munro said.

The Associated Press

last update:Jul 15, 2008

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