Group will go on acquisitions trail but plans to shed subsidiaries

CRH is to dispose of between 10% and 30% of its subsidiary portfolio over the next few years; but also has the capacity to spend up to €1.5bn on fresh acquisitions over the coming 18 months.

Updating, yesterday, on the portfolio review it initially announced late last year, the Dublin-headquartered building materials giant said that 45 subsidiary companies — roughly 10% of its current asset base — have been identified for “orderly disposal”, while another 20% is to be reviewed for potential restructuring.

Group chief executive, Albert Manifold said that it is “most unlikely” that all of the additional 20% of assets will be sold.