Guernsey-based Bailiwick Investments is to take a 13.4 per cent stake in construction services firm SigmaRoc, which is poised to buy Channel Islands building supplier Ronez.
SigmaRoc's takeover of Ronez is to be listed on the Alternative Investment Market of the London Stock Exchange, with a dual listing on the Channel Islands Securities Exchange, early this year.
The board of Bailiwick Investments has agreed terms to acquire the stake in SigmaRoc once the company has been listed, said Chairman David Lowe.
Ronez’s quarrying history dates back to 1869. It now supplies the Channel Islands with aggregates, ready-mixed concrete, asphalt and precast concrete products, and undertakes road contracting services in Guernsey and Jersey.