CRH transfers Portuguese shareholding to former JV partner

Building materials company CRH has said that it has transferred its 49 per cent shareholding in Portuguese cement producer Secil to its former joint venture partner Semapa.

16th May, 2012

Building materials company CRH has said that it has transferred its 49 per cent shareholding in Portuguese cement producer Secil to its former joint venture partner Semapa.

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, at a valuation of €574 million, the company said in a statement.

The net...

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