LONDON--SigmaRoc PLC (SRC.LN) said Monday it is seeking regulatory approvals to buy Ronez Ltd., from Aggregate Industries Ltd., a wholly owned subsidiary of LafargeHolcim Ltd. (HCMLY), in a deal that's classed as a reverse takeover under U.K rules.
SigmaRoc announced on Oct. 5 that it had submitted a binding proposal for a deal, and that its shares were therefore suspended. It didn't say what the deal was or who its was with.
The investing company said Monday it has participated in an application to the Channel Islands Competition & Regulatory Authorities for approvals to buy Ronez. The proposed acquisition will be conditional on a number of things, including financing, CICRA and shareholder approvals.
The company's ordinary shares will remain suspended from trading on AIM until an admission document is published.
Ronez is a producer of construction materials. It operates two quarries and multiple business lines with associated production units across Jersey and Guernsey, providing a range of construction materials to the local area.
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(END) Dow Jones Newswires
November 21, 2016 03:39 ET (08:39 GMT)
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