Bids up to €400m for CRH units

FINAL bids of up to €400 million for at least one of the two non-core assets up for sale at CRH are understood to have been lodged yesterday.

The Dublin-headquartered international building materials and cement products giant announced earlier in the year that it was intending to sell off its European insulation and climate control businesses given that it no longer had an interest in becoming a leading player in either market segment.

It is thought CRH could fetch a combined figure of between €300m and €400m for the assets. It is also understood that yesterday was the final deadline for bids for the insulation business; although the group was making no comment on account of it being in a closed period ahead of the publication of its half-year results next Tuesday.