JP Morgan has done its first mergers and acquisitions deal for Koramic Building Products of Belgium, advising on a disposal.

Koramic has agreed to sell 50% of its clay roof tile business to Wienerberger, an Austrian building products company, for €211.5m ($222.6m). Christian Dumolin, chairman of Koramic, said JP Morgan is a long-term adviser to his company, but had not advised it on any M&A deals.