CRH Agrees $1.1B Divestment of European Lime to SigmaRoc Plc
Portfolio Pulse from Benzinga Newsdesk
CRH plc has agreed to sell its European lime operations to SigmaRoc plc for approximately $1.1 billion. The deal includes 16 operating locations in Ireland, the UK, Germany, Czech Republic, and Poland. These operations generated sales of around $610 million and EBITDA of $137 million in 2022. The transaction is pending customary conditions and regulatory approvals.
November 22, 2023 | 7:28 am
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CRH plc is divesting its European lime operations to SigmaRoc plc for $1.1 billion, which could positively impact its financial position and allow for strategic reallocation of resources.
The divestment of the lime operations for $1.1 billion is a significant transaction for CRH plc, likely to be viewed positively by investors as it could improve the company's balance sheet and allow for reinvestment in core areas or return of capital to shareholders. The sale price suggests a strong valuation for the assets, given the reported EBITDA, which may lead to a short-term positive impact on CRH's stock price.
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