CRH to Sell European Lime Business to SigmaRoc for $1.1 Billion
22 Novembre 2023 - 8:50AM
Dow Jones News
By Ian Walker
CRH PLC is selling its European lime operations to SigmaRoc for
$1.1 billion in a three-part deal, the first of which is expected
to complete early next year.
The Irish building-materials supplier said Wednesday that the
sale follows a review of the business and is part of its approach
to portfolio management.
The company said the first part of the sale includes operations
in Germany, Czech Republic and Ireland. The remaining phases,
consisting of operations in the U.K. and Poland, are expected to
complete in 2024, it said.
"The proceeds from the divestment will provide us with
significant additional capital allocation opportunities to deliver
further growth and value creation for our shareholders," CRH Chief
Executive Albert Manifold said.
The business being sold generated sales of $610 million and
earnings before interest, taxes, depreciation and amortization of
$137 million in 2022.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
November 22, 2023 02:35 ET (07:35 GMT)
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