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CRH PLC CRH CRH Transfers its 49% Holding in Secil to Semapa

  CRH PLC (CRH) - CRH Transfers its 49% Holding in Secil to Semapa

RNS Number : 4071D
CRH PLC
16 May 2012




   N E W S R E L E A
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                                                                   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: mail@crh.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

END


MSCEELFFLEFZBBZ -0- May/16/2012 06:00 GMT
 
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