NEW YORK – June 14, 2024 – CRH plc (NYSE: CRH), the leading provider of building materials solutions, is pleased to announce that Adbri’s Independent Shareholders approved the Scheme of Arrangement (the “Scheme”) under which CRH and the Barro Group (“Barro” and together with CRH the “Partners”) will acquire Adbri Ltd. (“Adbri”) at the Scheme Meeting held on June 12, 2024. The Scheme subsequently received Court approval on June 14, 2024.

Under the approved Scheme, CRH will acquire the remaining 57% of the ordinary shares of Adbri not owned by Barro for the previously agreed cash consideration of A$3.20 per share. The Offer values Adbri at an equity valuation of A$2.1 billion (US$1.4 billion) on a 100% basis and values the approximately 53% of issued share capital that the Partners do not currently have an interest in and which CRH has agreed to acquire at A$1.1 billion (US$0.7 billion). Having previously secured Foreign Investment Review Board (FIRB) approval, all conditions to the transaction have now been satisfied and based on the current timetable for implementation, completion is expected to occur on July 1, 2024.

Albert Manifold, Chief Executive of CRH, said: “We are pleased to receive Independent Adbri Shareholder and Court approval for the proposed acquisition of Adbri in partnership with the Barro family. Adbri is an attractive business with high-quality assets and leading market positions that complement our core competencies in cement, concrete and aggregates while creating additional opportunities for growth and development for our existing Australian business. We look forward to working with the Barro family over the coming years to enhance the long-term growth and performance of Adbri.”

Contact CRH at [email protected]
Albert ManifoldChief Executive
Jim MinternChief Financial Officer
Frank HeisterkampDirector of Capital Markets & ESG
Tom HolmesHead of Investor Relations