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CRH completes acquisition of Lafarge-Holcim assets

Michele Maatouk

LONDON (ShareCast) - (ShareCast News) - CRH (NYSE: CRH - news) has reached an agreement to acquire certain assets from Lafarge (EUREX: 504482.EX - news) -Holcim for a total enterprise value of €6.5bn. The Irish building materials company said the transaction is now complete, with the exception of the Philippines which is expected to close in the third quarter of 2015.

CRH had agreed in February to acquire assets in Europe, Canada, Brazil and the Philippines from Lafarge and Holcim. Chief executive Albert Manifold said: "The businesses we are acquiring, which represent an excellent geographic fit with CRH's existing operations, are all strong performers in their respective areas.

"The integration of these high quality assets, which we have acquired at an attractive valuation and at the right point of the cycle, will strengthen our presence in a number of key markets as well as providing new platforms for strategic growth. The additional scale will help us to improve efficiency, speed up innovation and provide an even better service to our customers."