CRH announces that Adbri shareholders approve the acquisition

CRH announced that the independent shareholders of Adbri have approved the Scheme of Arrangement under which CRH and the Barro group will acquire Adbri at the general meeting of June 12. The project then received court approval on June 14. Under the approved plan, CRH will acquire the remaining 57% of Adbri’s ordinary shares not held by Barro for a pre-agreed cash consideration of AUD 3.20 per share. The offer values ​​Adbri at an equity valuation of $1.4 billion on a 100% basis and values ​​approximately 53% of the issued share capital in which the partners do not currently have an interest and which CRH has accepted to acquire at $0.7 billion. Having obtained approval from the Foreign Investment Review Board, all conditions of the transaction have now been met and, based on the current implementation schedule, completion is expected to take place on July 1.