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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.

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