SigmaRoc applies for Channel Islands approval for LafargeHolcim acquisition

Construction investor SigmaRoc has applied to the regulatory authority in the Channel Islands to complete the reverse acquisition of construction supplier Ronez from a subsidiary of LafargeHolcim.

The company said on Monday that it has applied to the Channel Islands Competition and Regulatory Authorities to buy Jersey and Guernsey-based Ronez from Aggregate Industries, which is a subsidiary of the Swiss building products giant.

The proposed acquisition is conditional on financing, regulatory approval and the approval from the company's shareholders and as Ronez is a larger entity, would be classed as a reverse acquisition.

SigmaRoc's shares have been suspended from trading on AIM since 5 October.