Cevian Capital, Europe’s largest activist investor, has increased its stake in CRH to above three per cent for the first time.
"As a long-term investor, we are pleased to be able to increase our ownership and commitment to CRH at a share price that is well below our view of the value of the group's assets," said Cevian Capital partner, Gustav Lundgren.
"We remain convinced of CRH's potential and support the company's efforts to unlock value and enhance long-term competitiveness," he added.
It now has a 3.14 per cent stake in CRH, which is currently valued at EUR427m, according to the Irish Independent. As a result of the COVID-19 pandemic, shares in CRH have reportedly halved in the past month, cutting its market capitalisation to EUR13.5bn.
