CRH to sell stake in JV back to Semapa
Irish building materials group CRH has been notified by cement-maker Semapa of its intention to acquire CRH's shares in their joint venture, Secil.
Irish building materials group CRH has been notified by cement-maker Semapa of its intention to acquire CRH's shares in their joint venture, Secil.
In 2004 CRH bought the stake for €429m euro, but Semapa has exercised its option to purchase the stake back for €574m.
At a tribunal held in Paris last year, CRH was ordered to sell its stake in the JV.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In 2011, Secil generated earnings before interest, tax, depreciation and amortisation of €102m on sales of €507m. Net debt at 31 December 2011 amounted to €142 million.
CRH shares rose 2.27% to 1,2600p by 12:11.
NR
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
Side hustle tax changes: HMRC reforms could save thousands from filing self-assessment tax returns
The government plans to raise the tax-free threshold for trading income – here is how it could help your side hustle
By Marc Shoffman Published
-
Return to the office: is working from home coming to an end?
More and more employers want their staff to return to the office. Is it a good idea?
By David Prosser Published