Blackstone to acquire CRH distribution arm for €1.64bn

The transaction comprises the listed group's European builders merchants business, including its sanitary heating and plumbing division.

The valuation excludes an additional €50m sum that is dependent on undisclosed contractual clauses, according to a statement. It is based on a 2018 pro forma EBITDA figure of €155m from a turnover of €3.7bn.

The transaction, which forms part of the vendor's strategy to divest non-core assets, is subject to regulatory approval.

Company
Founded in 1970, Dublin-headquartered CRH supplies building materials to trade buyers and consumers across six countries in Europe.

People
CRH – Albert Manifold (CEO).

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