Australia: Adelaide Brighton has publicly dismissed media speculation about its alleged plans to purchase Barro Group. The building materials producer said that whilst it had proposed transaction plans to Barro at ‘various times’ no agreement has been reached on any such deal.
Analysts at the investment bank Citi said that Adelaide Brighton’s management were keen to buy the US$384m cement business owned by its major shareholder, the Barro Group, according to the Australian newspaper. However, the analysts said they believed the complex shareholding structure could pose problems.
Adelaide Brighton dampens speculation on Barro Group purchase
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