Onoda Cement Co. has bought a $242-million...

Onoda Cement Co. has bought a $242-million chunk of stock in CalMat Co. of Los Angeles as part of a previously announced deal that ended ended an attempt by New Zealand investor Ronald A. Brierly to take over CalMat. CalMat said it had been informed that the Japanese cement firm bought Brierly’s 19% stake. That exchange is part of a multi-step deal that ended efforts by Brierly’s Industrial Equity Pacific Ltd. to buy CalMat. The deal, announced in July, also gives Onoda the right, two years hence, to exchange its CalMat shares for the firm’s California Portland Cement Co.