CRH circles Belgian assets of German rival HeidelbergCement

Building materials giant CRH is reportedly among bidders chosen to have a detailed look at US assets German rival HeidelbergCement is planning to sell to appease competition authorities over its purchase of Italy's Italcementi.

CRH and Denver-based Summit Materials, which is led by CRH's former top US executive Tom Hill, are among bidders chosen to carry out due diligence for $600 million of US assets being sold under the HeidelbergCement-Italcementi deal, according to Bloomberg.

The move will come as little surprise, given that CRH's chief executive Albert Manifold said in April that the Dublin-based group was interested in the US and Belgian assets that HeidelbergCement may sell as a result of its Italian takeover.

The German company has selected Turkey's Cimsa Cimento Sanayi and Cementir Holding of Italy, to carry out detailed work on potential bids for the $400 million of Belgian that are on the block.