UPDATE 1-CRH sees interest in potential sale of European distribution arm [Reuters]
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Source: Reuters
CRH sees interest in potential sale of European distribution arm - Reuters 3 Min Read DUBLIN (Reuters) - Irish building materials group CRH has had a lot of interest in its European distribution arm ahead of a decision in the next two to three months on whether to trigger a sale, Chief Executive Albert Manifold said on Thursday. Dublin-based CRH put the entire unit under review last year and Reuters reported on April 12 that CRH had hired Bank of America to launch the sale of the unit in a deal valuing the unit at about 2 billion euros ($2.25 billion) including debt. The sale process is expected to begin next month and has already drawn interest from buyout funds including Advent, Lone Star and CVC, sources familiar with the matter said. “We’ve had a lot of people (interested)... It’s an area that there has been a lot of interest in, the distribution space. Private equity have been involved in this space for a decade,” Manifold told a news conference following the company’s annual sha
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