Lakshmi Mittal buys Anglo American, Lafarge's UK assets for £272 million

Mining firm Anglo American and cement maker Lafarge have sold one of the UK's biggest concrete plants to Indian business tycoon Lakshmi Mittal.

The Indian-origin steel tycoon purchased Lafarge, and AA's assets for £272 million.

According to the Daily Express, among other assets the deal includes Anglo-owned Tarmac's 50% stake in Midland Quarry Products, one of the country's biggest hard rock suppliers.

The sale was a condition by the Competition Commission to allow Tarmac and Lafarge to combine their building materials activities in a joint venture..

According to the report, Mittal said the business deal reflected his confidence in UK growth.