Irish materials firm CRH is to pay £4.9bn to buy Lafarge Tarmac, one of the businesses that rivals Lafarge and Holcim must sell if they are to go through with their planned £30bn merger.
The deal will see CRH significantly expand its business in the UK and globally.
At the end of last year, CRH agreed to sell its Ibstock brick manufacturing business, US clay company Gen Gary as well as Forticrete and Supreme Concrete to US private equity firm Bain Capital.
As well as the Lafarge Tarmac business CRH will get production facilities in the Philippines, Canada, Brazil and several countries in Europe.
Lafarge Tarmac was put up for sale last summer, with the exception of its Cauldon cement works in Staffordshire, which is being kept, with a price tag of around £1.4bn.
In the UK, Holcim owns Aggregate Industries.
CRH will fund its part of the deal with cash, debt and a 9.99% equity placing