British materials giant Hanson UK has reportedly been put up for sale by HeidelbergCement, according to local press reports.
According to the Daily Mail, HeidelbergCement has been sounding out bidders to pay in the region of UK£1bn for Hanson’s UK business.
Hanson was bought by Heidelberg in 2007, leaving the German group with debts of over UK£5bn. Heidelberg said earlier this month it would sell off UK£1.7bn in assets to help service its debts.
The newspaper reported that Hanson UK would probably be broken up instead of sold to one bidder. It named CRH and Holcim as potential bidders for one of Hanson’s four divisions - aggregates and asphalt, concrete, building products and cement.