logo
Plus   Neg
Share
Email

CRH To Divest Europe Distribution Business To Blackstone For €1.64 Bln

CRH plc. (CRH.L) said that it agreed to divest of its Europe Distribution business to private equity funds managed by Blackstone for an Enterprise Value of 1.64 billion euros payable in cash.

The Business comprised CRH's entire General Builders Merchants business in Europe, including its Sanitary Heating and Plumbing business.

In 2018, the Europe Distribution business reported proforma sales of 3.7 billion euros, and profit before tax of 124 million euros.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The National Labor Relations Board ruled in favor of McDonald's in a long-running case filed by workers who accused the fast-food giant of retaliation after they tried to unionize. The lawsuit, filed by 20 employees against McDonald's and some of its franchise operators in 2015. The lawsuit was seeking a ruling that would consider McDonald's a 'joint employer' with its franchisees. Shares of Facebook fell almost 3 percent in Thursday's trading after the Wall Street Journal reported that the Federal Trade Commission is considering seeking a preliminary injunction against Facebook amid antitrust concerns over the company's integration of its apps. Facebook had earlier said it was planning to integrate its three messaging services. Beverages giant Pepsi announced the launch Pepsi Café, a new coffee-infused cola, which will debut in the United States in April 2020. The new beverage, which aims to satisfy both cola lovers and coffee fanatics across the US, comes in two delicious flavors - Original and Vanilla, with roasted Arabica coffee. It will be available at all major national retailers beginning in April next year.
RELATED NEWS
Follow RTT
>