CRH PLC Announces Completion of Building Envelope Divestment

Rhea-AI Summary

CRH has successfully completed the divestment of its Building Envelope business, previously announced on February 28, 2022, with an enterprise value of $3.8 billion. This divestment is part of CRH's strategy to streamline operations and enhance its focus on core areas within the building materials sector. The completion of this transaction is expected to strengthen CRH's financial position and allow for reinvestment into high-growth opportunities across its remaining business segments.

Positive

• Successful divestment of Building Envelope for $3.8 billion enhances financial position.
• Opportunity for reinvestment into high-growth areas of building materials.

Negative

• None.

DUBLIN, IRELAND / ACCESSWIRE / May 3, 2022 / CRH announces completion of Building Envelope divestment

On 28 February 2022, CRH plc announced that it had reached agreement to divest of its Building Envelope business for an enterprise value of $3.8 billion. CRH is pleased to announce that the transaction is now complete.

****

Contact CRH at Dublin 404 1000 (+353 1 404 1000)

Albert Manifold	Chief Executive
Jim Mintern	Finance Director
Frank Heisterkamp	Director of Capital Markets & ESG
Tom Holmes	Head of Investor Relations

About CRH

CRH (LSE:CRH)(ISE:CRG)(NYSE:CRH) is the leading building materials business in the world, employing c.71,000 people at c.3,200 operating locations in 28 countries. It is the largest building materials business in North America and Europe and also has regional positions in Asia. CRH manufactures and supplies a range of integrated building materials, products and innovative solutions which can be found throughout the built environment, from major public infrastructure projects to commercial buildings and residential structures. A Fortune 500 company, CRH is a constituent member of the FTSE 100 Index, the EURO STOXX 50 Index, the ISEQ 20 and the Dow Jones Sustainability Index (DJSI) Europe. CRH's American Depositary Shares are listed on the NYSE. For more information visit www.crh.com.

Registered Office: No 12965. Registered Office: 42 Fitzwilliam Square, Dublin 2, R02 R279, Ireland

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: CRH PLC

View source version on accesswire.com:
https://www.accesswire.com/699887/CRH-PLC-Announces-Completion-of-Building-Envelope-Divestment

FAQ

What is the significance of CRH's Building Envelope divestment completion?

The completion of the Building Envelope divestment for $3.8 billion strengthens CRH's financial position and allows for reinvestment into high-growth opportunities.

When was the divestment of CRH's Building Envelope business announced?

The divestment was announced on February 28, 2022.

How much was the enterprise value of the Building Envelope divestment by CRH?

The enterprise value of the Building Envelope divestment was $3.8 billion.

What is CRH's strategy following the Building Envelope divestment?

CRH aims to streamline operations and focus on core areas within the building materials sector after the divestment.

What are the expected outcomes of the Building Envelope divestment for CRH?

The divestment is expected to enhance CRH's financial position and facilitate reinvestment in high-growth areas.