SigmaRoc applies for Channel Islands approval for LafargeHolcim acquisition

21st Nov 2016 07:52

(ShareCast News) - Construction investor SigmaRoc has applied to the regulatory authority in the Channel Islands to complete the reverse acquisition of construction supplier Ronez from a subsidiary of LafargeHolcim.The company said on Monday that it has applied to the Channel Islands Competition and Regulatory Authorities to buy Jersey and Guernsey-based Ronez from Aggregate Industries, which is a subsidiary of the Swiss building products giant.The proposed acquisition is conditional on financing, regulatory approval and the approval from the company's shareholders and as Ronez is a larger entity, would be classed as a reverse acquisition.SigmaRoc's shares have been suspended from trading on AIM since 5 October.