CRH to spend big on back of €2.2bn US sale

Building materials giant CRH has said it is ready to act further on what it sees as “a strong pipeline” of acquisition opportunities in light of selling part of its US operations for $2.6bn (€2.2bn).

The Dublin-headquartered group yesterday dovetailed a strong set of interim results with the announcement that it has agreed the $2.6bn sale of its Americas Distribution division subject to regulatory approval.

It has also agreed to acquire German lime and aggregates business Fels, for €600m; a business it has courted for some time and which will fit with the group’s European Heavyside division.