CRH has announced the completion of the transaction to acquire certain assets from Lafarge and Holcim (now LafargeHolcim) for a total enterprise value of €6.5 billion. The only remaining transaction to close is the Philippines, which is expected to happen this quarter.
Commenting on these developments, Albert Manifold, CRH Chief Executive, said:
“Today we extend a warm welcome to 15 000 new colleagues joining CRH. With their expertise and talent on board, combined with the strength of our existing employee base, CRH is a step closer to achieving our aim of becoming the world’s leading building materials company. The businesses we are acquiring, which represent an excellent geographic fit with CRH’s existing operations, are all strong performers in their respective areas. The integration of these high quality assets, which we have acquired at an attractive valuation and at the right point of the cycle, will strengthen our presence in a number of key markets as well as providing new platforms for strategic growth. The additional scale will help us to improve efficiency, speed up innovation and provide an even better service to our customers.”
Adapted from press release by Katherine Guenioui
Read the article online at: https://www.worldcement.com/europe-cis/03082015/crh-completes-acquisition-of-lafargeholcim-assets-251/