CRH transfers its 49% holding in Portuguese cement joint venture
CRH plc, the international building materials company, announces that it has transferred its 49% shareholding in Secil, the Portuguese cement producer, to Semapa (SGPS, S.A.), its former joint venture partner.
The transfer is pursuant to a call option exercised by Semapa and confirmed by an award issued by an Arbitral Tribunal in Paris, functioning under the Rules of Arbitration of the International Chamber of Commerce (ICC), at a valuation of €574 million.
The net proceeds received by CRH amount to €564.5 million and reflect the valuation set by the Arbitral Tribunal as adjusted for legal...
