Development strategy update
CRH plc, the international building materials group, announces 2017 year-to-date acquisition and investment spending of approximately € 500 million reflecting eight transactions. In addition, the Group has reached agreement to divest six businesses which will result in total proceeds of approximately € 400 million.
Acquisitions – c.€ 500 million
Development activity in the first two months of 2017 comprised seven acquisitions spread across each of the four Americas Materials divisions (North, South, Central and West) and also CRH Canada. In addition, one small investment transaction was completed by the CRH Americas Products Division.
Divestments – c.€ 400 million
The Europe Heavyside Division has reached agreement on six divestments to date in 2017 for total proceeds of approximately € 400 million.
Germany: In the largest disposal transaction so far this year, CRH has reached agreement to divest one cement plant and one grinding station in Germany; these assets formed part of the LH Assets acquisition in 2015. The transaction is subject to approval by the German Competition Authority (Bundeskartell-amt).
France, Germany and Switzerland: Three further smaller divestments have taken place in France, Germany and Switzerland in the first two months of 2017.
