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Saturday 3 December 2016

CRH gets EU clearance for €6.5bn in asset purchases

Published 25/04/2015 | 02:30

A digger loads large rocks from the pit floor onto a truck at the CRH Plc. quarry in west Dublin. Photo: John Cogill/Bloomberg News.
A digger loads large rocks from the pit floor onto a truck at the CRH Plc. quarry in west Dublin. Photo: John Cogill/Bloomberg News.

CRH has been given the go-ahead by the European Commission for its €6.5bn acquisition of assets from rivals Lafarge and Holcim.

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The Irish building materials giant is buying a number of global assets belonging to the French and Swiss firms as they finalise terms of their own merger.

Lafarge and Holcim are disposing of some of their businesses to clear regulatory hurdles for their merger. The European Commission said that acquisition by CRH of the assets being sold would raise no competition concerns, "in particular because the merged entity (CRH and its newly-acquired businesses) will continue to face sufficiently strong competition after the merger and customers will have alternative suppliers in all markets concerned".

The planned merger between Holcim and Lafarge nearly collapsed last month.

Irish Independent

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