Breedon buys Northern Ireland's Lagan Group for £455m

By Hamish Champ2018-04-17T08:19:00

Deal offers “excellent opportunities for expansion” says Leicestershire firm

Breedon

Breedon has snapped up Northern Ireland-based materials manufacturer Lagan for £455m.

Leicesteershire-based Breedon had revealed in February it was in talks to buy the firm and today announced the deal was going ahead.

It plans to finance part of the asking price via a share placing that it hopes will net it around £170m, plus a new £150m medium-term loan and funds from a new revolving credit deal worth £350m.

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