CRH: stock up with acquisition in the US.
(CercleFinance.com) - The CRH share is up 4.
2% in London today, following an agreement to acquire Ash Grove Cement, a Kansas-based group which operates cement plants in eight US states, for 3.5 billion dollars.
The deal, subject to approval from shareholders of the acquired company and the regulatory authorities, will be financed by CRH's existing funds and is expected to be completed by the end of this year.
Broker Bryan Garnier said that the transaction will strengthen both CRH's heavy businesses and exposure to the US, pointing out that Ash Grove is one of the top five cement players in the country, with cement deliveries of 8.2 million tonnes last year.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
2% in London today, following an agreement to acquire Ash Grove Cement, a Kansas-based group which operates cement plants in eight US states, for 3.5 billion dollars.
The deal, subject to approval from shareholders of the acquired company and the regulatory authorities, will be financed by CRH's existing funds and is expected to be completed by the end of this year.
Broker Bryan Garnier said that the transaction will strengthen both CRH's heavy businesses and exposure to the US, pointing out that Ash Grove is one of the top five cement players in the country, with cement deliveries of 8.2 million tonnes last year.
Copyright (c) 2017 CercleFinance.com. All rights reserved.