SigmaRoc to acquire Belgium's CDH Developpement for €45.1m


Construction materials group SigmaRoc said it would acquire Belgian blue limestone supplier CDH Developpement for €45.1m.

The total enterprise value of the deal was €81.3m, including €36.2m of net debt.

SigmaRoc said it would fund the transaction through a placing of new shares in the company to raise £32.8m, at a placing price of 41p per share.

CDH Developpement was the holding company of Carrieres du Hainaut and CDH International.

'This acquisition, which is consistent with our strategy of growth, provides us with an exciting opportunity to substantially strengthen our existing presence in Belgium, one of the highest infrastructure densities in the EU,' chief executive Max Vermorken said.

At 2:20pm: (LON:SRC) SigmaRoc Plc share price was +1p at 42p

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