Irish building materials group CRH Plc has agreed to acquire 50 per cent of privately owned Indian cement maker My Home Industries Limited for €290 million.
"CRH and the existing owners will jointly manage MHIL and both parties will have equal board and management representation," CRH said.
The transaction is expected to be completed during the second quarter of 2008.
The group's share price fell .38 cent to €23.52 in the first hour of business on the Iseq this morning, the equivalent of a 1.59 per cent fall in value.