International building materials group CRH plc, Dublin, Ireland, will sell its clay and concrete businesses in the United Kingdom and its clay business in the United States to Bain Capital Europe LLP for £414 million (US$647.8 million).
As part of the transaction, expected to close in 2015, Bain will assume certain debt and pension liabilities relating to these businesses and the net cash consideration payable to CRH is expected to be GBP£295 million (US$461 million).
CRH's clay and concrete businesses generated profit before tax of £16 million (US$25 million) in 2013.
