CRH In Arrangements With Societe Generale For Buyback Of Up To EUR 350 Mln

(RTTNews) - Building materials group CRH Plc (CRH, CRH.L) announced Friday that it has entered into arrangements with Societe Generale to repurchase ordinary shares on CRH's behalf for a maximum consideration of 350 million euros.

On Thursday, as part of its 2019 first-half results, the company announced its plans to continue share buyback programme with a further tranche of 350 million euros to be completed by year end. This will bring total share repurchases in 2019 to 900 million euros. The company now said the buyback will commence on August 26 and will end no later than January 3, 2020.

Under the terms of the buyback, ordinary shares will be repurchased on Euronext Dublin. With the buyback, CRH intends to reduce its share capital of CRH.