# Eagle Materials and Heidelberg Materials enter put option agreement for Texas Lehigh Cement joint venture

Eagle Materials Inc. and Heidelberg Materials US, Inc. entered into a Put Option Agreement on May 1, 2024, granting reciprocal put options for their 50% interests in the Texas Lehigh Cement Company LP joint venture, with a purchase price of $1.1 billion.

- Type: Contract
- Announced: 2024-03-05
- Where: Buda, Texas, United States
- Value: $1.10B
- Status: announced
- Products: grey cement products, fly ash, slag
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [Eagle Materials](https://endata.com/companies/22162.md)
- [Heidelberg Materials US, Inc.](https://endata.com/companies/76063.md) (partner)
- [Texas Lehigh Cement Company LP](https://endata.com/companies/76064.md) (target)

## Sources

- [moneycontroller.co.uk](https://www.moneycontroller.co.uk/finance-news/eagle-materials-inc/material-agreement-form-8-k-2144907), 2024-03-05: "the TLCC Partners have granted a put option to HMSC that entitles HMSC to require the TLCC Partners to purchase all of the partnership interests held by HMSC in the Joint Venture in exchange for the payment of an amount equal to 50% of $1,100,000,000.00"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.