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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  CRH PLC    CRH   IE0001827041

CRH PLC

(CRH)
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CRH to Sell Europe Distribution Unit to Blackstone for EUR1.64 Billion

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07/16/2019 | 02:30am EDT

By Ian Walker

CRH confirmed Tuesday that it is selling its European distribution business to Blackstone Group for up to 1.64 billion euros ($1.85 billion).

The deal, which was reported in The Wall Street Journal on Monday, follows a monthslong review of the business as the company tries to simplify its global operations and bolster profits.

The sale comprises the entire General Builders Merchants business in Europe, including CRH's Sanitary Heating and Plumbing business. The deal is subject to regulatory approval.

"The transaction announced today demonstrates the continued execution of CRH's strategy of creating value for our shareholders through active portfolio management, the efficient allocation of capital and creating a simpler and more focused group going forward," Chief Executive Albert Manifold said.

Write to Ian Walker at ian.walker@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
BLACKSTONE GROUP INC 1.27% 49.46 Delayed Quote.65.92%
BLACKSTONE GROUP LP End-of-day quote.
CRH PLC -1.39% 2643 Delayed Quote.28.92%
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Financials (EUR)
Sales 2019 29 113 M
EBIT 2019 2 583 M
Net income 2019 1 750 M
Debt 2019 6 728 M
Yield 2019 2,32%
P/E ratio 2019 14,7x
P/E ratio 2020 14,2x
EV / Sales2019 1,11x
EV / Sales2020 1,08x
Capitalization 25 468 M
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Technical analysis trends CRH PLC
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 8
Average target price 30,14  €
Last Close Price 29,20  €
Spread / Highest target 17,5%
Spread / Average Target 3,21%
Spread / Lowest Target -8,05%
EPS Revisions
Managers
NameTitle
Albert Jude Manifold Chief Executive Officer, COO & Executive Director
Nicholas Hartery Non-Executive Chairman
Senan Murphy Group Finance Director & Executive Director
Heather Ann McSharry Independent Non-Executive Director
Donald A. McGovern Senior Independent Non-Executive Director
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