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Redland has agreed terms for a £1.8bn takeover by Lafarge, the French building materials company, having decided that a complete sale would be preferable to selling parts of the business following the decline in the UK stockmarket.
Redland has sold its European roof tiles operation to Braas, its German subsidiary, for £220m cash and at the same time increases its stake in Braas from 50.76% to 56.5%.
Redland is acquiring a 29.9% stake in Ennemix, the east Midlands aggregates concern, and may make a full offer.
Redland has sold 2 businesses - the calcium carbonates activities of Genstar Stone Products in the US, and its china clay operations near St Austell.