CRH PLC (CRH) - CRH Transfers its 49% Holding in Secil to Semapa
RNS Number : 4071D
16 May 2012
N E W S R E L E A
16 May 2012
CRH TRANSFERS ITS 49% HOLDING IN PORTUGUESE
CEMENT JOINT VENTURE SECIL TO SEMAPA
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 costs awarded to
Semapa and other amounts due to Semapa by CRH.
Semapa has indicated that it intends to continue its proceedings in the Cour
d'Appel (court of appeal) in Paris in relation to the award made by the
Arbitral Tribunal. CRH will be represented at the hearing.
Contact CRH at Dublin 404 1000 (+353 1 404 1000)
Myles Lee Chief Executive
Albert Manifold Chief Operating Officer
Maeve Carton Finance Director
CRH plc, Belgard Castle, Clondalkin, Dublin 22, Ireland TELEPHONE +353 1 404
1000 FAX +353 1 404 1007
E-MAIL: email@example.com WEBSITE: www.crh.com Registered Office, 42
Fitzwilliam Square, Dublin 2, Ireland
This information is provided by RNS
The company news service from the London Stock Exchange
MSCEELFFLEFZBBZ -0- May/16/2012 06:00 GMT
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