Manila-based investment firm Aboitiz Equity Ventures has announced that it plans to co-invest with CRH in the purchase of the Filipino assets of French cement company Lafarge.

Building materials group CRH spent €190m on 21 separate acquisitions and investments last year as part of its portfolio refinement.

CRH has been linked to a joint bid for the assets due to be sold in order to pass the planned mega-merger of French and Swiss cement giants, Lafarge and Holcim.