CRH agrees US$1.1 billion divestment of European lime operations
Published by Evie Gardner,
Editorial Assistant
World Cement,
CRH plc, a leading provider of building materials solutions, is pleased to announce that it has reached an agreement to divest its lime operations in Europe (the 'Business') to SigmaRoc plc for a total consideration of US$1.1 billion.
The transaction is subject to customary conditions and regulatory approvals.
The Business comprises 16 operating locations with leading market positions across Ireland, the UK, Germany, Czech Republic and Poland. The combined Business generated sales of US$610 million and EBITDA of US$137 million in 2022.
The transaction is structured in three phases, the first of which is expected to complete in early 2024 comprising the group’s lime operations in Germany, Czech Republic and Ireland. The remaining phases, consisting of operations in the UK and Poland, are expected to complete in 2024.
Albert Manifold, Chief Executive of CRH, said: “The decision to divest at an attractive valuation follows a comprehensive review of the Business and demonstrates CRH’s active approach to portfolio management. The proceeds from the divestment will provide us with significant additional capital allocation opportunities to deliver further growth and value creation for our shareholders.”
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Read the article online at: https://www.worldcement.com/europe-cis/23112023/crh-agrees-us11-billion-divestment-of-european-lime-operations/
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