CRH to Boost Australian Business by Acquiring Adbri With Barro [Yahoo! Finance]
CRH PLC Ordinary Shares (CRH)
US:NYSE Investor Relations:
crh.com/investors/results-centre
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Source: Yahoo! Finance
In December 2023, CRH and Barro jointly announced the acquisition of Adbri. CRH had 4.6% interest and Barro had approximately 43% shares of Adbri. CRH had proposed to raise its stake in Adbri to 57%. Now, with the recent approval for the Scheme of Arrangement by the Court on Jun 14, 2024, CRH will acquire the remaining 57% of ordinary shares of Adbri, not owned by Barro, for a cash consideration of A$3.20 per share. The total equity valuation of Adbri is said to be $1.4 billion, on a 100% basis. The deal also values approximately 53% of Adbri's issued share capital that the partners Barro and CRH do not currently own, and which CRH will acquire for $0.7 billion. CRH is optimistic about this strategic inorganic move as this will bring in additional opportunities for growth and development in its existing Australian business, which concerns its core competencies including cement, concrete and aggregates. The acquisition is expected to close on Jul 1, 2024. Strategic Acquisitions
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- CRH Announces CEO SuccessionBusiness Wire
- CRH completes final phase of European lime divestmentBusiness Wire
- CRH plc's (NYSE:CRH) Intrinsic Value Is Potentially 59% Above Its Share Price [Yahoo! Finance]Yahoo! Finance
CRH
Earnings
- 8/9/24 - Beat
CRH
Sec Filings
- 9/27/24 - Form 8-K
- 8/21/24 - Form 8-K
- 8/8/24 - Form 10-Q
- CRH's page on the SEC website