Arthur Cox Acts on Largest-ever Acquisition by an Indigenous Irish Company

03-02-2015

3 February 2015: Arthur Cox was lead legal adviser to CRH on its acquisition of assets held by Lafarge and Holcim. The firm led 11 local firms across 12 jurisdictions. The transaction, which saw the purchase of assets valued at €6.5 billion, is the largest-ever acquisition by an indigenous Irish company, according to financial data provider, Dealogic. The transaction was led by client partner, Pádraig Ó Ríordáin. Morgan Lewis, Brussels (Izzet Sinan) advised CRH on the antitrust aspects of the deal.

Brian O’Gorman, Managing Partner of Arthur Cox, commented: “This transaction underlines our strong position in the market and the quality of strategic legal and business counsel we offer to clients on complex, cross-border transactions. This is a transformational deal for CRH, making it the third-largest building materials company in the world and is a strong example of the firm’s strategy of supporting our clients on an international basis, helping them to move into new markets and expand their presence in existing ones.”

The scale of the deal gives CRH 685 new locations, 15,000 new employees, extending into six new countries. This includes 24 cement plants and sizeable aggregates operations, primarily in North America and across Western and Eastern Europe and two entirely new platforms in the emerging markets of the Philippines and Brazil. The transaction will be funded through a combination of €2 billion cash on balance sheet, bank facilities and a 9.99 per cent equity placing which closed successfully raising €1.6 billion.