CRH reveals negotiations with Cemex

CRH has announced that it is in negotiations with CEMEX that may lead to the acquisition of certain Cemex assets located in the United States and in Europe.

The completion of any transaction would be subject to satisfactory due diligence, the approval of the respective Boards of Directors and the granting of the required regulatory approvals.

The assets under negotiation include those operations in Florida and Arizona that the US Department of Justice has required Cemex to divest as a result of the acquisition of Rinker.

Given the mix of Cemex and Rinker assets, and the fact that Cemex's acquisition of Rinker has only recently been completed, detailed combined financial information on a consistent basis is not yet available.

Depending on the scale of businesses included in any potential deal, and the outcome of due diligence, a transaction size in the range of US$3.5bn and US$4.5bn (€2.5bn to €3.2bn) is possible.

CRH has sufficient balance sheet capacity to debt-finance any transaction that might take place.