CRH buys Finnish concrete business

Finland’s Lemminkäinen has signed an agreement to sell all outstanding shares in its concrete business to Rudus, which is part of Ireland-based materials giant CRH.

Rudus is based in Finland and works in concrete and stone building materials and products in Finland, the Baltic countries and Russia. The transaction price for the sale of Lemminkäinen Rakennustuotteet Oy is €55m, which will yield approximately €20m in capital gain. The transaction will require regulatory approvals from the Finnish competition authorities, which is expected to be taken until the third quarter of 2012.

The divested...

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