Private equity deal preempts Hanson Building Products initial public offering

Sources: Heidelberg Cement AG, Germany; CP staff

Germany’s HeidelbergCement projects a first quarter 2015 closing on the $1.4 billion sale of Hanson Building Products operations in the U.S., Eastern Canada and United Kingdom to an affiliate of Lone Star Funds, a real estate investment-centered private equity firm with Dallas, New York and Frankfurt offices. A definitive agreement on the transaction, announced just before Christmas, supersedes a Hanson Building Products Ltd. public offering HeidelbergCement had outlined three months prior in a U.S. Securities & Exchange Commission filing.

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Heidelberg signals NYSE listing for Hanson Building Products spinoff

Sources: Heidelberg Cement AG, Germany; CP staff

Citing improved residential, commercial and infrastructure market prospects on both sides of the Atlantic, Heidelberg Cement officials have outlined an initial public offering of recently chartered Hanson Building Products Ltd., spanning North American and U.K. pipe, precast, brick and roof tile production assets inherited in the 2007 takeover of Hanson Plc.

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