17th Sep 2007 07:01
CRH PLC17 September 2007 17 September 2007 CRH ANNOUNCES NEGOTIATIONS WITH CEMEX WHICH MAY LEAD TO THE PURCHASE OF CERTAIN ASSETS IN THE UNITED STATES AND EUROPE CRH plc, the international building materials group, announces that it is innegotiations with CEMEX S.A.B. de C.V. (Cemex) that may lead to the acquisitionof certain Cemex assets located in the United States and in Europe. Thecompletion of any transaction would be subject to satisfactory due diligence,the approval of the respective Boards of Directors and the granting of therequired regulatory approvals (including the U.S. Department of Justice andother antitrust authorities). The assets under negotiation include those operations in Florida and Arizonathat the U.S. Department of Justice has required Cemex to divest as a result ofthe acquisition of Rinker. In addition CRH is in negotiations to acquire fromCemex some or all of the following Cemex assets in the United States: Cemex'sconcrete pipe business; all the company's materials and products operations inthe Pacific Northwest, Utah, Wyoming, Nebraska, New Mexico, and El Paso, TX;the aggregates operations in Kentucky; Cemex's cement plants in Wampum, PA andFairborn, OH; and its gypsum wallboard distribution business in Florida. InEurope the assets under negotiation include the San Feliu cement plant inCatalonia in Spain and Cemex's readymixed concrete and aggregates assets inAustria and Hungary. Given the mix of Cemex and Rinker assets, and the fact that Cemex's acquisitionof Rinker has only recently been completed, detailed combined financialinformation on a consistent basis is not yet available. Depending on the scaleof businesses included in any potential deal, and the outcome of due diligence,a transaction size in the range of US$3.5 billion and US$4.5 billion (euro 2.5billion to euro 3.2 billion) is possible. CRH has sufficient balance sheetcapacity to debt-finance any transaction that might take place. Contact CRH at Dublin 404 1000 (+353 1 404 1000) Liam O'Mahony, Chief Executive Myles Lee, Finance Director Eimear O'Flynn, Head of Investor Relations Maeve Carton, Group Controller CRH plc, Belgard Castle, Clondalkin, Dublin 22, Ireland TELEPHONE +353.1.4041000 FAX +353.1.4041007 E-MAIL [email protected] WEBSITE www.crh.com Registered Office, 42 Fitzwilliam Square, Dublin 2, Ireland This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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