| 5.3°C Dublin

CRH sells businesses

CRH has announced the disposal of its clay and concrete products businesses in UK and its clay business in US under CEO Albert Manifold (left).

Ibstock and Glen Gery were sold to private equity firm Bain for an enterprise value (EV) of £414m (€522m). This amount excludes property assets with an estimated market value of £30m that are being retained by CRH for future disposal.

The deal is expected to close in the first half of 2015.

The proceeds received will be used for general corporate purposes.