Wednesday 13 November 2019

Deal or no deal, Manifold has cemented his reputation Deal

CRH chief executive Albert Manifold said the deal will lead to a whole new wave of grown for CRH.
CRH chief executive Albert Manifold said the deal will lead to a whole new wave of grown for CRH.
John Mulligan

John Mulligan

Should the Lafarge-Holcim deal fall apart, it will undoubtedly be disappointing for CRH, its shareholders, and for Albert Manifold personally.

He's only been in the chief executive job just over a year, and was already seen to have made his mark by sealing a deal to see off competition with the planned €6.5bn acquisition of the Lafarge and Holcim assets.

At a stroke, the deal would get CRH to a place that would otherwise take it years to achieve. Even CRH's annual report, released just last week, noted the speed at which Mr Manifold had taken to his new role, which has seen him spearhead the divestment of underperforming assets and the company emerge as the successful bidder for the Holcim and Lafarge assets.

The frustrating thing from the CRH side is that if this all goes pear-shaped it will be nothing to do with its own execution of the whole affair. It might all still come together, and Mr Manifold insists that it's not the be-all and end-all for the firm, whose shares rocketed when it announced the planned deal back in February.

"We have the capacity, flexibility and capability to do deals - big or small - going forward and I'm confident knowing the population of deals that are out there that the opportunities will present themselves for us," he said following yesterday's meeting in Dublin.

Irish Independent

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