UK and US building products group offloaded to Lone Star Funds
UK and US building products group Hanson has been sold to an American fund for $1.4bn (拢900m).
Hanson鈥檚 parent company, Heidelberg Cement, confirmed the sale to an American affiliate of Lone Star Funds on Christmas Eve.
Heidelberg Cement expects to close the transaction in the first quarter of this year.
Dr Bernd Scheifele, chief executive of Heidelberg Cement, said: 鈥淗anson 黑洞社区 Products is a multinational business with leading market positions, but the focus of its product portfolio on bricks, pressure and gravity pipes and precast is outside the core businesses of Heidelberg Cement.
鈥淲e are pleased that Lone Star will acquire this business which as an experienced financial investor will support the sustainable development of the business going forward.鈥�
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