SigmaRoc PLC on Tuesday announced that it has exercised a call option and entered a share purchase agreement to buy the Polish lime operations of CRH PLC.
Shares in SigmaRoc traded 1.4% lower at 69.20 pence in London late on Tuesday morning.
Both SigmaRoc and CRH are building materials companies. London-based SigmaRoc specialises in lime and limestone, while larger peer CRH also provides aggregates, cement, concrete, asphalt and other paving and construction materials.
SigmaRoc entered the call option in late November to buy the Polish target from CRH for deferred consideration of €100 million.
SigmaRoc has already acquired CRH’s lime operations in Germany, Ireland and the Czech Republic in November, and in early March exercised the option to buy the fellow Dubliner’s UK lime operations, too.
The Polish target includes CRH’s lime and limestone flour production, associated distribution network and assets in the country, and has two production sites in Kujawy and Sitkowka.
SigmaRoc on Tuesday noted that the Poland acquisition is conditional on receiving clearance from the Polish Competition Office, although it expects to complete the deal by the end of September.
SigmaRoc said it ‘is pleased with the progress to date on the integration of...the German, Czech, Irish and UK entities, and will provide a further update alongside its interim results’ for the period ending on June 30.
SigmaRoc shares were down 0.7% at 69.70 pence in London on Tuesday near midday. CRH was down 2.3% at 6,102.00p.
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