CRH Americas closed a $3.5 billion acquisition of Ash Grove Cement Co., after settling FTC charges by agreeing to sell certain assets including a cement plant in Montana and other operations.
KKR and XPV Water Partners announced the signing of a definitive agreement to sell Axius Water, a water quality solutions company, to CRH, a building materials company.
CRH increased its expected synergies from the $3.5 billion acquisition of Ash Grove Cement to $100 million from $80 million, before the deal closed.
CRH plc agreed to acquire Ash Grove Cement Company, a US cement manufacturer, for US$3.5 billion. The transaction is subject to shareholder and regulatory approvals and is expected to close around year-end 2017.
Ash Grove Cement announced that J. Randall Vance, previously president and COO, has been promoted to president and CEO. Charles Sunderland, former chairman and CEO, will remain chairman of the board.