September 28, 2004 |
Mexican cement giant Cemex said Monday that it planned to purchase England-based RMC Group, the world's biggest supplier of ready-mixed concrete. The deal calls for Cemex to pay $4.15 billion and assume $1.7 billion of RMC's debt. Cemex said the addition would make it the world's largest concrete company, with revenue of more than $15 billion. RMC directors have agreed to the acquisition, which is subject to approval by shareholders and regulators.