Good evening,

Cement Australia, the country’s biggest supplier of cement products, is in the final throes of securing financing to carve out Western Australia’s BGC Cementitious from the sprawling building materials and construction empire founded by the late Len Buckeridge.

Street Talk can reveal Cement Australia, a 50/50 joint venture between 57 billion Swiss franc ($109 billion) Swiss-based Holcim and the €30 billion ($54 billion) German-based Heidelberg Materials, is closing in on a $500 million debt facility to bankroll the deal which was signed in December last year. It is expected to rule off the debt package by the end of the week.

BGC Cementitious is a division of BGC Group, a supplier of products including cement, aggregate, concrete and asphalt to clients in Western Australia. BGC began selling its various businesses in 2018 during afamily battle over the estate of founder and construction entrepreneur Buckeridge, who died in 2014.

Read the full story tomorrow and more on the Street Talk page.

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Click here for the latest equity market wrap.