3rd Aug 2015 06:42
LONDON (Alliance News) - Irish building materials company CRH PLC on Monday said its deal to acquire assets from French and Swiss merger partners Lafarge SA and Holcim Ltd has been completed.
The only exception are the assets it is acquiring in the Philippines, for which it expects to receive regulatory approval this quarter.
CRH agreed a EUR6.5 billion deal back in February to acquire assets in Europe, Canada, Brazil and the Philippines from Lafarge and Holcim, which have now completed their USD41 billion merger.
"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," said Albert Manifold, CRH's chief executive.
By Sam Unsted; [email protected]; @SamUAtAlliance
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