DUBLIN (dpa-AFX) - CRH plc (CRH, CRH.L) said that it received Independent Adbri Shareholder and Court approval for the proposed acquisition of Adbri in partnership with the Barro family.
As per the terms of the deal, CRH will acquire the remaining 57% of the ordinary shares of Adbri not owned by Barro for the previously agreed cash consideration of A$3.20 per share. The Offer values Adbri at an equity valuation of A$2.1 billion or US$1.4 billion on a 100% basis and values the approximately 53% of issued share capital that the Partners do not currently have an interest in and which CRH has agreed to acquire at A$1.1 billion or US$0.7 billion.
With the Foreign Investment Review Board (FIRB) approval secured beforehand, all transaction conditions have been met, and completion is anticipated to take place on July 1, 2024.
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