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News » UK » Vinci buys Tarmac's European businesses for £250m » published 16/02/2010

Vinci buys Tarmac's European businesses for £250m

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Tarmac parent Anglo American has sold off its European businesses to Vinci subsidiary Eurovia for £250m.

Tarmac parent Anglo American has sold off its European businesses to Vinci subsidiary Eurovia for £250m.

The businesses sold are part of its Tarmac division, and comprise construction aggregates businesses in France, Germany, Poland and the Czech Republic.

In a separate transaction, Anglo American has sold its concrete products business in Poland to private equity fund Innova Capital. Anglo American sold its operations in Spain during 2008.

Anglo American, a FTSE 100 company, has been through heavy cost cutting and operational restructuring over the past 12 months to cut debt and refocus on its core businesses.

Eurovia specialises in maintenance of transport infrastructure, and owns quarries, asphalt plants, and road equipment production facilities. It employs 42,000 people.
 

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This article was published on 16/02/2010 (last updated on 25/10/2010).

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