CRH completes sale of Ash Grove assets to GCC
Regulators approved sale on condition that some assets were sold to address competition concerns
Photograph: Brenda Fitzsimons
The Irish company agreed to buy the US’s fifth-largest cement company for $3.5 billion (€2.9 billion) in September last year. Regulators approved the sale earlier this month, but said CRH would have to sell some of the assets to address findings by the Federal Trade Commission that the deal would hurth competition in certain areas.
Among the assets up for sale were a cement plant, two sand-and-gravel plants, one sand-and-gravel pit, three limestone quarries, and two hot-mix asphalt plants.
After the deal, GCC will continue to own and operate four ready-mix plants in Arkansas and own an office building in Tulsa, Oklahoma, which it will lease to CRH.