Semapa Intention to Acquire CRH's 49% in Secil

RNS Number : 0211C

CRH PLC

25 April 2012

 



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25 April 2012

SEMAPA NOTIFIES CRH OF INTENTION TO ACQUIRE CRH'S 49% HOLDING IN
PORTUGUESE CEMENT JOINT VENTURE SECIL

On 10 August 2011 CRH plc announced that an Arbitral Tribunal in Paris, functioning under the Rules of Arbitration of the International Chamber of Commerce (ICC), had issued its award and that CRH and Semapa (SGPS,S.A.) were obliged to complete the sale and purchase of CRH's 49% shareholding in Secil at an equity price of €574 million.

Semapa has now notified CRH of its intention to acquire the Secil shares held by CRH on 15 May 2012 on the terms set out in the ICC award.

CRH acquired a 49% shareholding with joint management control in Secil in June 2004 for an equity consideration of €329 million plus share of net debt at acquisition of approximately €100 million.

Contact CRH at Dublin 404 1000 ([phone])

Myles Lee               Chief Executive

Albert Manifold       Chief Operating Officer

Maeve Carton        Finance Director

CRH plc, Belgard Castle, Clondalkin, Dublin 22, Ireland TELEPHONE [phone]   FAX [phone]

E-MAIL: [e-mail]    WEBSITE: www.crh.com    Registered Office, 42 Fitzwilliam Square, Dublin 2, Ireland

Notes for Editors

Secil is a Portuguese manufacturer of cement and ready mixed concrete.  Secil also has cement and ready mixed concrete operations in Tunisia and Lebanon and cement operations in Angola.

In 2011, Secil (100% basis) achieved EBITDA of €102 million on sales of €507 million. 
Net debt at 31 December 2011 amounted to €142 million.

 

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