Eagle Materials' acquisition of Kosmos receives approval

The US-based Federal Trade Commission (FTC) has cleared Eagle Materials Inc’s agreement to acquire certain assets from Kosmos Cement Company, Kentucky, a joint venture between Cemex and Buzzi Unicem. The anti-trust approval was received on 9 January.

The assets being divested consist of the 1.7Mta cement plant in Louisville and seven distribution terminals as well as raw material reserves.

The net proceeds obtained from this transaction will be distributed to Cemex and Buzzi Unicem in line with their ownership stakes of 75 per cent and 25 per cent, respectively.