CRH Transfers 49% Holding In Secil To Semapa/Net Proceeds EUR564.5 Million
16 Maggio 2012 - 8:55AM
Dow Jones News
CRH PLC (CRH.DB), the international building materials company,
announced Wednesday that it transferred its 49% shareholding in
Secil, a Portuguese cement producer, to Semapa SGPS, S.A., its
former joint venture partner, and said the net proceeds were
EUR564.5 million.
-Transfer pursuant to call option exercised by Semapa and
confirmed by an award issued by an Arbitral Tribunal in Paris,
functioning under the Rules of Arbitration of the International
Chamber of Commerce, at a valuation of EUR574 million.
-Net proceeds reflect Arbitral Tribunal's valuation
-Semapa intends to continue proceedings in the Cour d'Appel, or
court of appeal, in Paris in relation to the award made by the
Arbitral Tribunal.
-CRH shares closed Tuesday at EUR13.89 valuing the company at
EUR10 billion.
-By Ed Ballard, Dow Jones Newswires; 44-20-7842-9375;
ed.ballard@dowjones.com
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