CRH Plc To Repurchase Up To $1 Bln Of Shares

(RTTNews) - CRH Plc (CRH, CRH.L), an Irish building materials maker, said on Monday that it will start a share repurchase drive to buy back up to $1 billion of shares to reduce its share capital.

The maximum number of shares that may be acquired pursuant to the drive is 35 million.

This is the firm's wider $3 billion share buyback drive announced on March 2.

Towards this, the company has entered into non-discretionary arrangements with Merrill Lynch International and BofA Securities, Inc. or Bank of America Corporation (BAC) to repurchase the shares on the London Stock Exchange or LSE and in the U.S.

The buyback will begin on September 25 on the LSE, and not earlier than October 23 in the U.S.

The company said that the share repurchase will conclude on or before December 20.