CRH plc and Cementos Portland Valderrivas SA have reached agreement on an asset swap in relation to certain Spanish assets, effective immediately. The deal involves operations in Spain and the UK.
CRH said in a statement that it will transfer its 26 per cent stake in Corporacion Uniland SA to CPV. In consideration, CPV will transfer its 99 per cent stake in Cementos Lemona SA to CRH.
Cementos Lemona is an integrated cement, ready-mix and aggregates business located close to Bilbao in the Basque region of Northern Spain. Further, CRH will acquire Southern Cement Ltd, a cement importation business, based in Ipswich, UK as part of the transaction.
As part of the transaction CRH and CPV will terminate all legal disputes with each other, CRH said in the statement.
